FiberNet narrows loss, adds customers
FiberNet Telecom Group halved its third quarter loss and reported a 14% increase in revenue off of substantial customer gains since last year’s third quarter.
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The transport and collocation provider posted a loss of 2.1 million, down 55.4% from last year’s Q3 loss of $4.7 million. Revenues were $6.7 million, up 4% from the second quarter, and up 14% from the third quarter of last year. FiberNet added 5 new carrier customers between June and September, and 39 customers in the last 12 months, bringing its customer base up to 133 carriers.
FiberNet interconnects carrier hotels in New York and Los Angeles, providing bandwidth ranging from 1.5 Mb/s to 10 Gb/s. Transport services accounted for 68% of FiberNet’s revenues in the third quarter, while collocation services and access management supplied 22% and 10% respectively.
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