Company Contact:
Investor Contact:
AboveNet, Inc.
Lippert/Heilshorn & Associates, Inc
Jeffrey Garte
Jody Burfening
Director, Corporate Development
212-838-3777
914-421-6700
jburfening@lhai.com
jgarte@above.net
 

AboveNet Reports First Quarter 2011 Adjusted EBITDA of $51.5 Million
on Revenue of $114.4 Million

White Plains, N.Y., May 5, 2011 — AboveNet, Inc. (NYSE: ABVT),
a leading provider of high bandwidth connectivity solutions, announced results for the first quarter of 2011.

“We had a solid start to the year, maintaining strong revenue and Adjusted EBITDA growth. While revenue for the 2011 quarter was boosted by unusually high equipment sales and contract termination revenue, we delivered healthy revenue growth from our lit services and fiber infrastructure services of 14.4% over last year’s first quarter,” said Bill LaPerch, Chief Executive Officer of AboveNet. “The proliferation of data-intensive applications in and around the cloud continues to fuel demand for our high bandwidth services. We are successfully capturing opportunities to support our customers’ growing bandwidth needs and adding new customers across all of our verticals.”

“In 2011, we are focused on building out and enhancing our existing Tier 1 market footprint,” added Mr. LaPerch. “As we add more data centers and cloud ecosystems to our network, we are continuously enlarging our addressable market and further leveraging our network assets. As a premier provider of high bandwidth infrastructure distinguished by our high-speed, low-latency, scalable services, we remain well positioned to meet the growing connectivity needs of enterprises in the U.S. and Europe.”
 
First Quarter 2011 Highlights
·
Revenue for the first quarter of 2011 was $114.4 million, a 17.7% increase from $97.2 million for the first quarter of 2010.
·
Revenue from domestic metro services for the first quarter of 2011 totaled $31.4 million, an increase of 16.3% from $27.0 million for the first quarter of 2010. Revenue from domestic WAN services for the first quarter of 2011 was $22.6 million, an increase of 22.8% over the $18.4 million for the first quarter of the prior year. Revenue from domestic fiber infrastructure services for the first quarter of 2011 totaled $45.1 million, an increase of 9.5% from $41.2 million for the first quarter of 2011.

 
 

The following information was filed by Abovenet Inc (ABVT) on Thursday, May 5, 2011 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.

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