Exhibit 99.1

 

Towerstream Reports 2014 Financial Results

and Corporate Update

 

MIDDLETOWN, R.I., March 12, 2015Towerstream Corporation (NASDAQ: TWER) (the “Company”), a leading 4G and Small Cell Rooftop Tower company, announced results for the fourth quarter and year ended December 31, 2014.

 

2014 Operating Highlights and Corporate Update

 

HetNets Tower Corporation Subsidiary

 

 

Revenues for the year ended December 31, 2014 were $3.1 million compared to $1.5 million for the year ended December 31, 2013 representing an increase of $1.6 million, or greater than 100%.

 

Master Lease Agreement executed with national carrier in third quarter of 2014 with initial deployments expected in the first half of 2015.

 

Number of Shared Wireless Infrastructure locations increased by 12% during 2014.

 

Number of Access Points leased by major cable company increased by 38% during 2014.

 

Towerstream Corporation

 

 

Launch of Cogent-like offering of 100 Megabytes of bandwidth for $699 generates strong demand with 27 buildings lit and 50 customer connections since launch in the first quarter of 2014.

 

ARPU increased to $772 at December 31, 2014 compared to $761 at December 31, 2013 representing an increase of $11, or 1%.

 

Customer churn for the year ended December 31, 2014 totaled 1.85% compared to 1.86% for the year ended December 31, 2013.

 

Search for second sales center during 2014 culminates in opening of new office in Southern Florida in March 2015.

 

Long-term debt financing completed in October 2014 provides working capital to execute growth initiatives planned for 2015.

 

 

Management Comments

 

“Our Shared Wireless segment demonstrated strong growth in 2014 with revenues doubling and the number of leasable locations increasing by 12% during the year,” stated Jeffrey Thompson, President and CEO. “The carriers have been vocal in stating that they are focused on the densification of their networks and we expect initial deployments on our locations in the first half of this year.”

 

“Our 100 megabyte service continues to gain traction and we will be adding buildings throughout 2015,” stated Joseph Hernon, Chief Financial Officer. “The recent opening of our second sales center will substantially increase our sales force. We believe that these initiatives will drive our Fixed Wireless segment back into growth mode in 2015.”

 

 
Page 1 of 10

The following information was filed by Towerstream Corp (TWER) on Thursday, March 12, 2015 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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