- Revenue of $274.5 million, which represented an 89% increase over second quarter 2006 revenue of $145.6 million;
- Adjusted EBITDA* of $52.5 million, which represented a 109% increase over second quarter 2006 adjusted EBITDA of $25.1 million;
- Net income of $6.0 million compared to a $<5.8> million net loss in second quarter 2006;
- Free cash flow* of $31.5 million, which represented the 18th consecutive quarter in which PAETEC Holding or its predecessor generated positive free cash flow;
- Ended the quarter with a cash balance of $84.5 million;
- An increase of 141% in the number of access line equivalents in service, from 1.10 million as of June 30, 2006 to 2.65 million as of June 30, 2007; and
- Successful completion on July 10, 2007 of amendments to PAETEC’s existing bank credit facility and a $300 million senior note offering priced at the end of the quarter.
PAETEC announced 2007 first quarter financial and operating results. As previously announced, PAETEC Corp. completed its merger with US LEC Corp. on February 28, 2007, creating one of the largest competitive telecommunications providers in the United States. Read the rest of this entry »
US LEC Corp. (NASDAQ: CLEC) and privately owned PAETEC Corp. today announced the completion of their planned merger transaction, which is effective today. The combined company will conduct business as PAETEC Holding Corp. (PAETEC), and its common stock will trade beginning tomorrow on the NASDAQ Global Select Market under the ticker symbol “PAET.” Read the rest of this entry »
US LEC Corp. (Nasdaq: CLEC), a full-service provider of IP, data and voice solutions to businesses and enterprise organizations throughout the Eastern United States, today announced its agreement with Florida Auto Dealers Group Buying LLC (FLADCO) as its communications partner of choice to its membership of 550 automotive dealerships across Florida.
“FLADCO scrutinizes each partner carefully and selects only those best-in-class to provide services to its members,” said John Matherly, vice president of strategic sales for US LEC. ”By choosing US LEC as their communications partner of choice, they acknowledge our commitment to advanced products and services, and dedication to customer support. They also recognized that US LEC understands the challenges that auto dealers’ face and that we can provide communications solutions to solve their critical business issues.”
Through this partnership, each dealership can choose from all available US LEC products and services including MPLS VPN, an advanced data networking service that offers priority queuing for critical applications and a scalable, survivable solution for businesses; Dynamic TSM, an integrated business-class Internet and voice service that includes the functionality and power of VoIP with the security and reliability of traditional voice services; and Ethernet Local Loop, a cost-effective solution for businesses utilizing existing Ethernet technology.
“FLADCO is excited to partner with US LEC to offer our members communications services to help make their businesses better,” said Mark Mackson, FLADCO president. “This agreement further strengthens our dedication to providing our membership the best services possible through an experienced partner who understands the needs of automotive dealerships.”
US LEC Corp. (Nasdaq: CLEC), a full-service provider of IP, data and voice solutions to businesses and enterprise organizations throughout the Eastern United States, today announced the expansion of its Ethernet Local Loop transport service to the metro and surrounding areas of Tampa, Fla.
“US LEC continues to aggressively expand its IP-based service offering across its footprint to meet the growing demand for these services,” said Andy Drotleff, regional vice president for US LEC. “The addition of US LEC Ethernet Local Loop service to Tampa will provide local businesses an easily-implemented and scalable solution for their Internet and data requirements.”
The service is now available in 12 of US LEC’s switching facilities including Atlanta; Charlotte, N.C.; Fort Myers, Fla.; Jacksonville, Fla.; Miami; New York City; Orlando; Fla., Philadelphia; Richmond, Va.; and West Palm Beach, Fla. In addition to Tampa, US LEC recently announced the availability of Ethernet Local Loop in Nashville.
US LEC’s Ethernet Local Loop delivers a versatile solution by offering incremental bandwidth speeds ranging from 3 Megabits per second (Mbs) to 500Mbs, for Internet and MPLS VPN data networking services. A bursting option to handle heavy, intermittent Internet traffic is also available.
All traffic travels over US LEC’s secure network and supports Internet Protocol (IP), providing easy integration with existing infrastructure and applications. By utilizing the Ethernet platform, customers can also eliminate the need for special equipment or upgrades, such as new routers or network interface cards.
For customers transporting MPLS VPN traffic, US LEC offers quality of service (QoS) guarantees allowing traffic to be prioritized according to customer requirements. This allows the most important traffic to utilize available bandwidth first. As priority traffic decreases, other traffic uses available bandwidth.
Click here for a Dynamic T 1 price quote.
US LEC Corp. (Nasdaq: CLEC), a full-service provider of IP, data and voice solutions to businesses and enterprise organizations throughout the Eastern United States, today announced the launch of its Dynamic T integrated VoIP and Internet solution to the West Palm Beach, Fla. market and surrounding areas. Complementing the January introduction of Dynamic T in Miami, the business-class VoIP service is now available to businesses throughout Southeast Florida. In addition to Miami and West Palm Beach, Dynamic T is also available in the cities of Boynton Beach, Coral Springs, Deerfield, Delray Beach, Fort Lauderdale, Fort Pierce, Hollywood, Jupiter, Pompano and Vero Beach.
“US LEC continues to deploy business-class VoIP services like Dynamic T to meet a growing demand for the flexibility and productivity gains businesses realize through an integrated Internet and voice VoIP solution,” said Andy Drotleff, regional vice president for US LEC. “Businesses with mobile workforces or that work in a fluid business climate will find US LEC’s Dynamic T an effective, adaptable solution.”
Dynamic T data and voice traffic travels exclusively on the US LEC network ensuring call quality and reliability identical to traditional voice services, including 911 capabilities. US LEC offers QoS (Quality of Service) guarantees that ensure carrier-grade quality. Additionally, all traffic undergoes dynamic allocation, the process of prioritizing traffic into classes that allows the most important traffic priority over other applications. This allows priority applications, such as voice, guaranteed delivery over non-priority traffic and delivers carrier-grade call quality and clarity. As voice traffic decreases, Internet and other remaining traffic utilizes available bandwidth ensuring businesses get the most from their bandwidth investment.
US LEC’s Dynamic T offers a broad range of features that allow businesses to custom-tailor their solutions, which include:
- Dynamic T SIP – Utilizes the emerging carrier IP phone standard, SIP (Session Initiated Protocol), converting voice into IP traffic via software. Dynamic T SIP provides next-generation VoIP services through the IP/PBX today and eliminates the need for expensive hardware or hardware upgrades, “future proofing” business communications and justifying the IP/PBX investment.
- BIGVoiceSM – Allows businesses to break through the traditional limitations of 24 voice channels over a 1.5 Mbs T1 and may reduce the number of local loops required for voice traffic, creating cost savings for voice calls.
- BIGDataSM – Provides scalable high-bandwidth Internet and networking services for businesses who require 3 Mbs to 600 Mbs of bandwidth, but want VoIP functionality and ability to buy bandwidth incrementally.
- Voice Messaging and Mobility Pak – Provides the mobility and voice messaging services users expect from VoIP, allowing users to dictate preferences based on any combination of caller importance, call time, call location or user availability, including Find-Me Follow-Me call functionality and voice mail delivery by e-mail.
The addition of Dynamic T to West Palm Beach now extends business-class VoIP service throughout South Florida, including Miami. US LEC now offers Dynamic T in 10 switching centers including Atlanta, Baltimore, Jacksonville, Fla., Miami, New York, Orlando, Fla., Philadelphia, Tampa, Fla. Washington, D.C. and West Palm Beach, Fla.
Click here for a Dynamic T 1 price quote.
US LEC Corp. (Nasdaq: CLEC), a full-service provider of IP, data and voice solutions to businesses and enterprise organizations throughout the Eastern United States, today announced it will provide an online Web simulcast and rebroadcast of its first quarter 2006 conference call on Tuesday, May 2, 2006 at 1:00 pm Eastern time.
The live broadcast will be available online at http://www.uslec.com and http://www.earnings.com. To listen to the live call, please go to the web site at least fifteen minutes early to register, download, and install any necessary audio software. For those who cannot listen to the live broadcast, a telephone replay will be available shortly after the call through the close of business on May 5, 2006 and a replay via webcast will be available through June 2, 2006.