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Incentra Reports Q1

BOULDER, Colo. -- Incentra Solutions, Inc. (BULLETIN BOARD: ICNS) , a provider of complete IT services and solutions to enterprises and managed service providers in North America and Europe, today announced results for its first quarter ended March 31, 2008. Total revenues for the 2008 first quarter increased 93 percent to $48.2 million, up from $25.0 million for the 2007 first quarter.

Services revenue in this year's first quarter was $7.1 million, up 58 percent from $4.5 million in the 2007 first quarter, and Product revenue increased 101 percent to $41.1 million from $20.5 million in the prior year's first quarter. The 2008 first quarter included revenue from the acquisitions of Helio Solutions (Helio) and Sales Strategies, Inc (SSI), which were completed late in the third quarter of 2007.

Chairman and CEO Thomas P. Sweeney said that operating profit for the first quarter of 2008 increased for the third consecutive quarter to $301,000 compared to a loss of $423,000 in the first quarter of 2007. "The contribution of operating profits by the most recent acquisitions as well as the increasing volume of services delivered were important factors in the achievement of our third consecutive quarter of increasing operating profit," Sweeney added.

"I am also pleased to report that driven by increases in sales of our higher margin First Call and Enhanced First Call maintenance programs, and Managed Services offerings, our base of recurring services revenue in this year's first quarter continued to grow, increasing 36 percent year-over-year," Sweeney said. "We expect to see continued solid increases in this important revenue stream throughout this year and beyond."

Incentra Solutions Inc.