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Company
Contact:
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Investor
Contact:
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AboveNet,
Inc.
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Lippert/Heilshorn
& Associates, Inc
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Lloyd
Jarkow
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Jody
Burfening
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Vice
President, Corporate Development
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212-838-3777
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914-421-6700
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jburfening@lhai.com
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ljarkow@above.net
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AboveNet
Reports Third Quarter 2010 Adjusted EBITDA of $47.2 Million
on
Revenue of $103.7 Million
White Plains, N.Y., November 4, 2010
— AboveNet, Inc. (NYSE: ABVT), a leading provider of high-bandwidth
connectivity solutions, announced results for the third quarter and nine months
ended September 30, 2010.
“Our third quarter performance
reflects the steady recovery in customer spending that began earlier this
year. As the market for high-bandwidth transport continues to expand,
interest in our scalable, high-speed, low-latency network connectivity services
is increasing. This is opening up more opportunities for us in
verticals like legal and healthcare,” said Bill LaPerch, chief executive officer
of AboveNet. “We continued to make progress with our growth
initiatives during the third quarter, and still expect to have four new markets
operational by year end. By opening new markets and further
leveraging our capabilities in existing markets, we are placing the company in a
strong position to sustain its current revenue growth rates.”
Third Quarter 2010
Highlights
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·
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Revenue
for the third quarter of 2010 was $103.7 million, a 12.2% increase from
$92.4 million for the third quarter of
2009.
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Revenue
from domestic metro services for the third quarter of 2010 totaled $29.2
million, an increase of 17.7% from $24.8 million for the third quarter of
2009. Revenue from domestic WAN services for the third quarter
of 2010 was $20.6 million, an increase of 20.5% from $17.1 million for the
third quarter of 2009.
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·
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Adjusted
EBITDA for the third quarter of 2010 was $47.2 million, compared to $40.7
million for the third quarter of
2009.
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●
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Cash
used for capital expenditures for the third quarter of 2010 was $30.5
million, compared to $26.5 million for the third quarter of
2009.
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·
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Cash
and cash equivalents at September 30, 2010 was $194.8 million, compared to
$165.3 million at December 31,
2009.
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The following information was filed by Abovenet Inc (ABVT) on Thursday, November 4, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
View differences made from one quarter to another to evaluate Abovenet Inc's financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Abovenet Inc.
ABVT Quarterly Reports
- 10-Q Quarterly Report May 2012
- 10-Q Quarterly Report November 2011
- 10-Q Quarterly Report August 2011
- 10-Q Quarterly Report May 2011
-
10-Q Quarterly Report November 2010
