OnFiber revenue grew 24% in 2005

In its fifth year of consecutive revenue growth, OnFiber Communications reported growing its overall revenue 24% in 2005 to more than $50 million.

A privately owned fiber wholesaler, OnFiber shared selective financial results for 2005 in a press release today, including its revenue backlog (more than $100 million) and its revenue per employee (nearly $450,000).

The company’s 2005 annual revenue growth numbers were no doubt affected by a pair of acquisitions made in mid-2004. In June of that year, OnFiber purchased the assets of Boston wholesaler C2C Fiber Networks. In July, it acquired Portland General Broadband, giving it entry into the Portland, Ore., market.

In October 2005, OnFiber obtained a $25-million senior secured credit facility with which it planned to pay existing debts and fund organic growth and acquisitions.

In September, the company launched a new service called AdaptiveLink that uses fiber to bridge the gap between enterprises and alternative telecom providers such as interexchange carriers and competitive carriers. Following its introduction in San Francisco and Washington D.C., the company vowed to bring the service to 15 top-tier cities by the end of the year.