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Norma I. Salcido
Director of Marketing & Communications
FiberNet Telecom Group, Inc.
FiberNet Reports Fourth Quarter and Full Year 2008 Results
Fourth Quarter of 2008 Revenues Increase 13.6% and EBITDA Increases 18.6% Over
Comparable Period in 2007
NEW YORK March 12, 2009 FiberNet Telecom Group, Inc. (NASDAQ: FTGX), a leading provider of complex interconnection services, today announced its results for the fourth quarter and fiscal year ended December 31, 2008.
Revenues for the fourth quarter of 2008 increased to $15.4 million, up 13.6% from $13.6 million for the fourth quarter of 2007 and up 3.4% from $14.9 million for the third quarter of 2008.
EBITDA (as defined) for the fourth quarter of 2008 was $3.1 million, up 18.6% from $2.6 million for the fourth quarter of 2007 and up 2.5% from $3.0 million for the third quarter of 2008.
FiberNet continued to achieve consistent revenue growth in its core product offerings of transport and colocation services. For the fourth quarter of 2008, revenues from transport and colocation services grew by 14.2% over the fourth quarter of 2007.
Transport services remained the most significant component of FiberNets revenues, accounting for 77.0% of the total revenues generated in the fourth quarter of 2008. On-net transport revenues were 45.8% and off-net transport revenues were 31.2% of the total revenues.
Colocation services represented 22.4% of total revenue generated in the fourth quarter. Colocation revenues were the fastest growing area for the Company in the fourth quarter of 2008, increasing by 19.2% from the fourth quarter of 2007 and by 5.0% from the third quarter of
The following information was filed by Fibernet Telecom Group Inc on Thursday, March 12, 2009 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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