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MIDDLETOWN, R.I., Jan. 12, 2011 (GLOBE NEWSWIRE) -- Towerstream (Nasdaq:TWER), a leading 4G service provider, announced that it has reached EBITDA profitability in its Dallas market. It becomes the ninth of the Company's eleven markets to reach this milestone.
"We launched Dallas at the beginning of the economic downturn and are pleased to reach EBITDA profitability," said Jeff Thompson, President and Chief Executive Officer. "Businesses recognize the advantages of our wireless solution including faster delivery and scalable service at a lower cost."
"We expect continued growth in Dallas which is the 5
th largest market in the United States with more than 65,000 businesses," stated Joseph Hernon, Chief Financial Officer of Towerstream. "It is important to note that EBITDA profitability and Market Cash Flow are not recognized measures under generally accepted accounting principles. We utilize these metrics to measure the operational performance of our markets, and their respective ability to contribute cash flow to support centralized operating and corporate overhead costs."
Key Operating Metrics and Non-GAAP Financial Measures
The terms "EBITDA" and "Market Cash Flow" are measurements used by Towerstream to monitor business performance and are not recognized measures under generally accepted accounting principles, or "GAAP." Accordingly, investors are cautioned in using or relying upon these measures as alternatives to recognized GAAP measures. Towerstream's method of calculating these measures may differ from other companies and, accordingly, may not be comparable to similar measures presented by other companies. The term "EBITDA" refers to earnings before interest expense, interest income, income taxes, depreciation, amortization and stock-based compensation. "Market Cash Flow" represents the amount of cash generated in a market after deducting a market's direct operating expenses from that market's revenues. Market Cash Flow does not include (i) centralized operating costs which support all markets collectively or (ii) any network related capital expenditures incurred in a market.