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Abovenet Inc (ABVT) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2009

Abovenet Inc

CIK: 1043533 Ticker: ABVT
 
 
Company Contact:
Investor Contact:
AboveNet, Inc.
Lippert/Heilshorn & Associates, Inc
Lloyd Jarkow
Jody Burfening/Amy Gibbons
Vice President, Corporate Development
212-838-3777
914-421-6700
agibbons@lhai.com
ljarkow@above.net
 
 
AboveNet Reports Fourth Quarter 2009 Adjusted EBITDA of $39.2 Million
on Revenue of $94.3 Million
 
White Plains, N.Y., March 10, 2010 — AboveNet, Inc. (NYSE: ABVT), a leading provider of high-bandwidth connectivity solutions, announced results for the fourth quarter and full year ended December 31, 2009.

“In 2009 we posted strong results that were in line with our expectations for revenue growth, Adjusted EBITDA margin and capital spending,” said Bill LaPerch, AboveNet’s President and CEO. “We executed well against our strategy to grow with our customers and enlarge our addressable market by focusing on lit services. In 2009, for the first time, lit services revenue surpassed dark fiber revenue. We also turned free cash flow positive, giving us additional capital for growth.”

“Beginning in 2010, we plan to invest a greater portion of our capital spending on projects designed to position the company for growth over the next five years,” added Mr. LaPerch. “The market for next-generation Wavelength and Ethernet services is in its early stages, opening up attractive growth opportunities for us. We intend to leverage our capabilities as a focused provider of high-bandwidth solutions to help us achieve industry-leading growth rates over the long-term.”

Fourth Quarter and Full Year 2009 Highlights
·
Revenue in the fourth quarter of 2009 was $94.3 million, an increase of $4.5 million, or 5.0%, compared to the fourth quarter of 2008. Excluding contract termination revenue from the 2008 and 2009 fourth quarters, revenue would have been $81.1 million and $93.4 million, respectively, an increase of $12.3 million, or 15.2%.
·
Domestic metro services revenue grew 27.6% to $25.4 million in the fourth quarter of 2009 from $19.9 million in the fourth quarter of 2008; domestic WAN services revenue increased 21.4% to $17.6 million in the fourth quarter of 2009 from $14.5 million in the fourth quarter of 2008.
 

The following information was filed by Abovenet Inc (ABVT) on Wednesday, March 10, 2010 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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SEC Filing Tools
Ticker: ABVT
CIK: 1043533
Form Type: 10-K Annual Report
Accession Number: 0001144204-10-013667
Submitted to the SEC: Tue Mar 16 2010 8:58:24 AM EST
Accepted by the SEC: Tue Mar 16 2010
Period: Thursday, December 31, 2009
Industry: Communications Services

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