Cogent Profit, Sales Hires Soar in Fourth Quarter

ISP and backhaul provider Cogent Communications recorded profit in the fourth quarter of 2008 and the entire year overall. In fact, the company is doing so well it had to hire a record number of salespeople just to keep up with demand.

Cogent said this week it hired 67 reps in the fourth quarter; this after it added 62 new salespeople in the third quarter. Of course, a lot of those new hires leave during the rigorous training process, Cogent said.

All in all, Cogent is doing well. Its sales soared in the three months ending Dec. 31 to $44.8 million, up from $40.5 million a year earlier. Net income jumped 13 percent to $31.2 million.

Still, Cogent’s guidance for 2008 fell a little under analysts’ expectations. Executives had projected guidance of between $225 million and $235 million; the actual numbers totaled $218 million.

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