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Abovenet Inc (ABVT) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2011

Abovenet Inc

CIK: 1043533 Ticker: ABVT

 

 

 

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

 

 

AboveNet Reports Fourth Quarter 2011 Adjusted EBITDA of $55.9 Million

on Revenue of $121.6 Million

 

 

White Plains, N.Y., February 28, 2012 — AboveNet, Inc. (NYSE: ABVT),

a leading provider of high bandwidth connectivity solutions, announced results for the fourth quarter and year ended December 31, 2011.

 

“Our fourth quarter performance extended our track record of superior financial results and industry-leading Adjusted EBITDA Margin. Revenue grew 2.9% sequentially and 12.5% year-over-year. Continued strong performance in our WAN services highlights our ability to leverage our metro assets both within and between the metro,” said Bill LaPerch, Chief Executive Officer of AboveNet. “Going into 2012, we see ample opportunity to continue to invest in expanding the reach of our high bandwidth infrastructure and meeting our customers’ increasing demand for next generation Ethernet services.”

 

Fourth Quarter 2011 Highlights

·Revenue for the fourth quarter of 2011 was $121.6 million, a 12.5% increase from $108.1 million for the fourth quarter of 2010.
·Revenue from domestic metro services for the fourth quarter of 2011 totaled $33.3 million, an increase of 9.9% from $30.3 million for the fourth quarter of 2010. Revenue from domestic WAN services for the fourth quarter of 2011 was $28.6 million, an increase of 29.4% over $22.1 million for the fourth quarter of the prior year.
·Adjusted EBITDA for the fourth quarter of 2011 was $55.9 million, compared to $47.3 million for the fourth quarter of 2010.
·Cash used for capital expenditures for the fourth quarter of 2011 was $39.2 million, compared to $47.7 million for the fourth quarter of last year.
·Cash and cash equivalents at December 31, 2011 were $118.4 million, compared to $61.6 million at December 31, 2010.
·The company repurchased $1.9 million worth of shares of its common stock during the fourth quarter of 2011 under the stock repurchase program adopted in December 2011.

 


The following information was filed by Abovenet Inc (ABVT) on Tuesday, February 28, 2012 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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Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statement Of Shareholders' Equity (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows (parenthetical)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Consolidated Statements Of Operations (parenthetical)
Consolidated Statements Of Shareholders' Equity
Accrued Expenses
Accrued Expenses (schedule Of Accrued Expenses) (details)
Accrued Expenses (tables)
Background And Organization
Basis Of Presentation And Significant Accounting Policies
Basis Of Presentation And Significant Accounting Policies (estimated Useful Lives Of Property And Equipment) (details)
Basis Of Presentation And Significant Accounting Policies (fair Value Of Derivatives) (details)
Basis Of Presentation And Significant Accounting Policies (interest Rate Swap Agreements) (details)
Basis Of Presentation And Significant Accounting Policies (narrative) (details)
Basis Of Presentation And Significant Accounting Policies (policy)
Basis Of Presentation And Significant Accounting Policies (tables)
Change In Estimate
Changes In Estimate (details)
Commitments And Contingencies
Commitments And Contingencies (narrative) (details)
Commitments And Contingencies (schedule Of Estimated Future Payments, Net Of Receipts For Contractual Obligations) (details)
Commitments And Contingencies (tables)
Income Per Common Share
Income Per Common Share (details)
Income Taxes
Income Taxes (components Of Deferred Tax Assets And Liabilities) (details)
Income Taxes (narrative) (details)
Income Taxes (schedule Of Income Before Income Taxes) (details)
Income Taxes (schedule Of Provision For (benefit From) Income Taxes) (details)
Income Taxes (schedule Of Rate Reconciliation) (details)
Income Taxes (tables)
Litigation
Litigation (details)
Long-term Debt
Long-term Debt (narrative) (details)
Long-term Debt (schedule Of Future Minimum Payments Under Capital Leases) (details)
Long-term Debt (tables)
Other (expense) Income, Net
Other (expense) Income, Net (schedule Of Other Income (expense), Net) (details)
Other (expense) Income, Net (tables)
Prepaid Costs And Other Current Assets
Prepaid Costs And Other Current Assets (schedule Of Components Of Prepaid Costs And Other Current Assets) (details)
Prepaid Costs And Other Current Assets (tables)
Property And Equipment
Property And Equipment (narrative) (details)
Property And Equipment (schedule Of Components Of Property And Equipment) (details)
Property And Equipment (tables)
Quarterly Financial Data
Quarterly Financial Data (schedule Of Quarterly Results) (details)
Quarterly Financial Data (tables)
Related Party Transactions
Related Party Transactions (details)
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts (details)
Segment Reporting
Segment Reporting (revenue And Long-lived Asset Information For Geographic Areas) (details)
Segment Reporting (tables)
Shareholders' Equity
Shareholders' Equity (narrative) (details)
Shareholders' Equity (summary Of Stock Warrants) (details)
Shareholders' Equity (tables)
Stock-based Compensation
Stock-based Compensation (narrative) (details)
Stock-based Compensation (schedule Of Grant Date Fair Value Of Vested Options) (details)
Stock-based Compensation (schedule Of Restricted Stock Units) (details)
Stock-based Compensation (schedule Of Stock Options Activity) (details)
Stock-based Compensation (schedule Of Stock Options Outstanding And Exercisable) (details)
Stock-based Compensation (tables)
Subordinated Investment
Subordinated Investment (details)
Ticker: ABVT
CIK: 1043533
Form Type: 10-K Annual Report
Accession Number: 0001144204-12-011778
Submitted to the SEC: Wed Feb 29 2012 7:31:27 AM EST
Accepted by the SEC: Wed Feb 29 2012
Period: Saturday, December 31, 2011
Industry: Communications Services

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