AboveNet -- Revenue for Lit Services Surpass Dark Fiber

AboveNet reported revenue of $94.3 million, an increase of $4.5 million, or 5.0%, compared to the fourth quarter of 2008. Excluding contract termination revenue from the 2008 and 2009 fourth quarters, revenue would have been $81.1 million and $93.4 million, respectively, an increase of $12.3 million, or 15.2%.


Domestic metro services revenue grew 27.6% to $25.4 million in the fourth quarter of 2009 from $19.9 million in the fourth quarter of 2008; domestic WAN services revenue increased 21.4% to $17.6 million in the fourth quarter of 2009 from $14.5 million in the fourth quarter of 2008.


"In 2009 we posted strong results that were in line with our expectations for revenue growth, Adjusted EBITDA margin and capital spending," said Bill LaPerch, AboveNet's President and CEO. "We executed well against our strategy to grow with our customers and enlarge our addressable market by focusing on lit services. In 2009, for the first time, lit services revenue surpassed dark fiber revenue. We also turned free cash flow positive, giving us additional capital for growth." http://www.above.nethttp://