Rackspace Hosting Q4 net income up

Rackspace Hosting, a provider of hosting and cloud computing solutions, has reported a net income of $13.54 million, or $0.10 per diluted share, for the fourth quarter ended December 31, 2010, compared to $9.03 million, or $0.07 per diluted share, for the fourth quarter ended December 31, 2009.

The fourth quarter of 2010

For the fourth quarter of 2010, net revenue was $214.73 million, compared to $169.52 million for the fourth quarter of 2009.

"In the beginning of the year we outlined our objectives for 2010, to grow faster than 2009, during maintaining margins and investing in our business. We as well said that we expected adjusted free cash flow to be positive at growth rates below 35%. With the year completed, I am very pleased to report that we delivered on all three objectives," said Bruce Knooihuizen, CFO.