Wednesday, May 6, 2009
Phoenix Business Journal
Limelight Networks Inc. reported first-quarter net income of $55 million, the result of favorable growth and an appeals court win in a patent infringement lawsuit.
Limelight (Nasdaq:LLNW) reported a net loss of $18.6 million in the first quarter of 2008, and a loss of $13.9 million in the fourth quarter of 2008. Revenue in the first quarter was $33 million, compared to $30.2 million last year.
Results include $66 million the company had put aside to pay for damages and legal fees in its ongoing fight over Akamai Technologies Inc. alleged patent infringement.
Jeff Lunsford, Limelight’s CEO, said the Tempe-based company is pleased with the result of the lawsuit with Akamai as well as the way the company is tracking.
The company is seeing benefits as more people use the Web for content delivery and companies shifting products to the Web.
“We believe the world will only need two or three content delivery networks to deliver this content in the future,” he said.
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