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August 23, 2005 Stock Pick: InterNAP Network Services Corporation (IIP)

Stock Price: $0.47

InterNAP Network Solutions is a leading provider of performance-based routing solutions over the Internet. The company enables businesses to take full advantage of the benefits of deploying business-critical applications such as e-commerce, Voice-over-IP (VoIP), video-conferencing, and streaming audio/video across the Internet.

On August 9th, the company reported revenues of $37.6 million and a net loss of only $1.0 million, an improvement of 75% compared to a net loss of $4.3 for the same period last year. The company now has 2,019 business customers and cash and cash equivalents of $42.5 million.

IIP has formed a solid base at $0.46, similar support has been built in the past, we expect little to no downside from the current level. IIP currently sets at a market cap of $159 million.

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