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FiberNet Announces National Network Expansion
Friday, May 09, 2008
NEW YORK, May 9 /PRNewswire-FirstCall/ -- FiberNet Telecom Group, Inc.
(Nasdaq: FTGX), a leading provider of complex interconnection services, today
announced that it is implementing a national network expansion, bolstering
core capacity and extending the reach of its networks. Building upon the
success of its transcontinental network and colocation initiatives, FiberNet's
expansion will include four major projects:
New York Metro Network Expansion -- The Company will add approximately 40
Gigabits of network capacity, 36 optical wavelengths and hundreds of
strands of vertical dark fiber to its core network in the New York / New
Jersey market.
Los Angeles Metro Network Expansion -- The Company will add 10 Gigabits of
core network capacity in Los Angeles.
Chicago, San Francisco and Miami Network Extensions -- The Company will
deploy multiple 2.5 Gigabit wavelengths to extend its network reach to the
Chicago, San Francisco and Miami markets.
Metro Ethernet Expansion -- The Company will add approximately 68 Gigabits
of core switching capacity to its metro, native Ethernet network.
"This national network expansion is the next step to drive the long-term
growth of our business," said Jon A. DeLuca, President and CEO. "By increasing
available network capacity and broadening our addressable markets, we believe
that our customers and our shareholders will benefit."
FiberNet expects to complete this national network expansion program by
the fourth quarter of this year. FiberNet intends to fund these deployments
with existing cash, internally generated cash flows and availability under its
credit facility. FiberNet will provide additional information with the release
of its first quarter results.
About FiberNet Telecom Group, Inc.
FiberNet Telecom Group, Inc. owns and operates integrated colocation
facilities and diverse transport routes in the two gateway markets of New
York/New Jersey and Los Angeles, designed to provide comprehensive broadband
interconnectivity enabling the exchange of traffic over multiple networks.
FiberNet's customized connectivity infrastructure provides an advanced, high
bandwidth, fiber-optic solution to support the demand for network capacity and
to facilitate the interconnection of multiple carriers' and customers'
networks. For additional information about FiberNet, visit the company's
website at www.ftgx.com .
Various remarks that we may make about FiberNet's future expectations,
plans and prospects constitute forward-looking statements for purposes of the
safe harbor provisions under The Private Securities Litigation Reform Act of
1995. Such remarks are valid only as of today, and we disclaim any obligation
to update this information. Actual results may differ materially from those
indicated by these forward-looking statements as a result of various important
factors, including those discussed in FiberNet's most recent Annual Report on
Form 10-K, which is on file with the Securities and Exchange Commission.
SOURCE FiberNet Telecom Group, Inc.
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