This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Towerstream Reports Second Quarter 2012 Results

MIDDLETOWN, R.I., Aug. 9, 2012 (GLOBE NEWSWIRE) -- Towerstream Corporation (Nasdaq:TWER) (the "Company"), a leading 4G and Wi-Fi/ Small Cell Network Services provider, announced results for the second quarter ended June 30, 2012.

Second Quarter Operating Highlights
  • Revenues increased 4% to $8.1 million during the second quarter 2012 compared to the first quarter 2012 and increased 23% compared to the second quarter 2011.
  • Adjusted EBITDA profitability, excluding non-recurring expenses and net costs associated with the small cell rooftop asset platform, was $1.3 million for the second quarter 2012 compared to $1.4 million for the first quarter 2012 and $1.1 million for the second quarter 2011.
  • Customer churn for the second quarter 2012 was 1.65% and remained within or below the Company's target range of 1.4% to 1.7% for the eleventh consecutive quarter.
  • Customer upgrades for the second quarter were at record levels, increasing in dollar value by 31% compared to the first quarter 2012 and by 26% compared to the second quarter 2011.
  • Nodes constructed for the small cell network totaled approximately 600 during the second quarter 2012, which was a quarterly high to date.
  • Executed an agreement whereby Delos Internet will become a wholly-owned subsidiary of the Company. The transaction is subject to customary conditions and is expected to close in the fourth quarter. Delos Internet is based in Houston, Texas which is the fourth largest city in the United States.

Management Comments

"Node construction activity was robust during the second quarter and we are on track to reach our target of 5,000 nodes by the first quarter of 2013," stated Jeffrey Thompson, President and Chief Executive Officer. "We expect to be well positioned when network integration is complete and data traffic begins moving onto our small cell network in 2013."

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs