cooney letter from 2008 annual report | INAP Message Board Posts

Internap Network Services Corporation

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Msg  1480 of 1510  at  4/30/2009 5:42:09 PM  by

giannio


cooney letter from 2008 annual report

Since joining the Internap team several weeks ago, one of the most frequent questions

I have been asked is, “What attracted you to join Internap?” My answer is simple: Internap

competes in compelling markets, serves a broad and diverse customer base and has a

unique set of assets to underpin a long-term profitable growth strategy.

Throughout our history, Internap has developed a reputation for delivering best-in-class technologies

and services. Building on our patented Internet route optimization technology, our customers have

access to IP services that are among the best-performing and most reliable in the industry. The

combination of our technology leadership and a world-class 24/7 customer support organization

enables us to deliver industry-leading, 100 percent service level commitments. We are successfully

leveraging these strengths across all of our business units: Data Center Services, IP Services and

Content Delivery Networks.

Of particular value in these challenging economic times is the Company’s strong financial position.

We ended the year with $54 million in cash and marketable securities, more than two times the balance

of our interest-bearing debt and capital leases. Internap has also proven its ability to generate consistent

cash to run the Company’s operations; 2008 cash from operations was $38 million, up 38 percent over

the prior year. These characteristics are important because they give us the flexibility to focus on the

operational and strategic drivers of sustained profitability.

Even in my short time with Internap, it is clear to me that the staff brings an extraordinary level of

dedication, commitment and professionalism to their roles. With this motivated team, uniquely

differentiated assets and growing markets, we are committed to deliver long-term profitable growth

for our stockholders.

Sincerely,

J. Eric Cooney

President and Chief Executive Officer

April 30, 2009



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