Towerstream Reports Higher Sequential Revenues and 38% Increase in Adjusted EBITDA for Third Quarter 2017
TOWERSTREAM CORP (TWER)
US:NASDAQ Investor Relations:
ir.towerstream.com
Company Research
Source: GlobeNewswire
MIDDLETOWN, R.I., Nov. 14, 2017 (GLOBE NEWSWIRE) -- Towerstream Corporation (OTCQB:TWER), a fixed wireless fiber alternative provider, today announced financial results for the third quarter ended September 30, 2017. Adjusted EBITDA of $340,000 increased 38% in the third quarter of 2017 compared to the second quarter of 2017.Third quarter revenues of $6,555,000 grew sequentially quarter over quarter.Average revenue per user (ARPU) for new sales contracts was $579 for the third quarter of 2017, a 32% increase from the third quarter of 2016.Churn was reduced to 1.26% in the third quarter of 2017 from 2.02% in the third quarter of 2016. “The sequential improvement in many of our key financial and operational metrics reflects the progress we are making on our initiatives to position Towerstream for the future,” said Ernest Ortega, chief executive officer of Towerstream. KEY PERFORMANCE INDICATORS Key performance indicator (KPI) trends are shown below: Quarters Ended Septembe
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