Towerstream to Add 70 New On-Net Buildings in Q3
22 September 2016 - 11:15PM
Towerstream Corporation (NASDAQ:TWER) (the “Company”), a leading
Fixed-Wireless Fiber Alternative company, provided guidance for the
quarter ending September 30, 2016.
- Towerstream is on track to add 70 buildings to its
On-Net footprint in Q3. This is a 70% increase over new building
additions in Q2 and brings total On-Net buildings to 335 at
the end of Q3.
- This brings the total number of businesses in the
Company’s On-Net buildings to over 10,000, up 30% from 7,700 at
close of Q2.
- The current On-Net building average monthly revenue is
$1,102 and the current On-Net building penetration rate is
6%.
Management Comments
“There is a direct relationship in sales growth
to the number of buildings On-Net,” stated Philip Urso, Interim
Chief Executive Officer.
“Fixed-Wireless technology inherently provides a
competitive advantage,” stated Arthur Giftakis, Chief Operating
Officer. “The speed we can add buildings at our low cost gives us
an unfair advantage over fiber and cable.”
About Towerstream
Corporation
Towerstream Corporation (NASDAQ:TWER) is a
leading Fixed-Wireless Fiber Alternative company delivering
high-speed Internet access to businesses. The Company offers
broadband services in 12 urban markets including New York City,
Boston, Los Angeles, Chicago, Philadelphia, the San Francisco Bay
area, Miami, Seattle, Dallas-Fort Worth, Houston, Las Vegas-Reno,
and the greater Providence area.
Safe Harbor
Certain statements contained in this press
release are “forward-looking statements” within the meaning of
applicable federal securities laws, including, without limitation,
anything relating or referring to future financial results and
plans for future business development activities, and are thus
prospective. Forward-looking statements are inherently subject to
risks and uncertainties, some of which cannot be predicted or
quantified based on current expectations. Such risks and
uncertainties include, without limitation, the risks and
uncertainties set forth from time to time in reports filed by the
Company with the Securities and Exchange Commission. Although the
Company believes that the expectations reflected in such
forward-looking statements are reasonable, it can give no assurance
that such expectations will prove to be correct. Consequently,
future events and actual results could differ materially from those
set forth in, contemplated by, or underlying the forward-looking
statements contained herein. The Company undertakes no obligation
to correct or update any forward-looking statements, whether as a
result of new information, future events or otherwise.
INVESTOR CONTACT:
Terry McGovern
Vision Advisors
415-902-3001
mcgovern@visionadvisors.net
Towerstream (CE) (USOTC:TWER)
Historical Stock Chart
From Apr 2024 to May 2024
Towerstream (CE) (USOTC:TWER)
Historical Stock Chart
From May 2023 to May 2024