The Directors of NEXTDC Limited (ASX:NXT) ("the Company" or "NEXTDC") are pleased to announce its first full year results for the period 11 May 2010 to 30 June 2011. The results are reflective of the start-up nature of NEXTDC business.

However, NEXTDC is well placed to commence delivering revenue during the 2012 financial year following the opening of Brisbane (B1), Melbourne (M1) and Canberra (C1) facilities by 30 June 2012.

Perth (P1) and Sydney (S1) are expected to be operational in the first half of 2013 financial year.

Key financial highlights for the period ended 30 June 2011 include:

• net cash outflow from operating activities $0.75 million
• net investment $42.67 million
• cash and cash equivalents $62.10 million
• net loss after tax $1.67 million
• net tangible asset backing per ordinary share 90.44 cents.

As of 26 August 2011, the Company’s cash and cash equivalents balance was approximately $70 million (post institutional placement on 1 August 2011). The Company is expected to raise further $20 million (approximately) following conditional placement of its recently announced capital raising. This placement is subject to shareholder approval at an extraordinary general meeting on 15 September 2011.

As each of NEXTDC facilities are nearing completion, the Company’s focus will shift from construction activities to the revenue-generating phase.

NEXTDC’s CEO Mr Bevan Slattery said, “NEXTDC’s strong balance sheet, experienced team and secured data centre sites with access to significant power and communications infrastructures, positions the Company well to enable the cloud revolution by delivering a national network of independent data centres”.