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DSL.net Reports Q-2, Year-to-Date 2006 Results.
WALLINGFORD, Conn. -- DSL.net, Inc. (OTCBB: DSLN), a leading nationwide provider of broadband communications services to businesses, today reported second quarter and year-to-date Jun. 2006 financial results.
Revenue from continuing operations for the second quarter of 2006 was $9.5 million, as compared to revenue from continuing operations of $12.7 million for the second quarter of 2005. Revenue from continuing operations for the six months ended Jun. 30, 2006 was $19.6 million as compared to revenue from continuing operations of $26.4 million for the same period in 2005.
The Company generated gross margin (defined as revenue less network expense) from continuing operations of $2.5 million for the second quarter of 2006, compared to gross margin of $4.2 million from continuing operations for the second quarter of 2005. Gross margin from continuing operations for the six months ended Jun. 30, 2006 was $4.2 million compared to gross margin from continuing operations of $8.5 million for the same period in 2005.
Earnings before interest, taxes, depreciation, amortization, other income (expense) and non-cash stock compensation ("Adjusted EBITDA") for the second quarter of 2006 was negative $1.3 million, compared to positive $0.4 million for the second quarter of 2005. Adjusted EBITDA for the six months ended Jun. 30, 2006 was negative $3.7 million compared to positive $0.9 million for the same period in 2005.
Free cash flow (defined as Adjusted EBITDA minus capital expenditures) for the second quarter of 2006 was negative $1.6 million, compared to positive $0.3 million for the second quarter of 2005. Free cash flow for the six months ended Jun. 30, 2006 was negative $4.2 million compared to positive $0.7 million for the same 2005 period.
Net loss from continuing operations for the second quarter of 2006 was $5.7 million (which included a non-cash charge of $2.1 million for stock-based compensation expense), compared to net loss from continuing operations of $3.1 million for the second quarter of 2005 (which had no charge for stock-based compensation expense). Net loss from continuing operations for the six months ended Jun. 30, 2006 was $10.6 million (which included a non-cash charge of $2.3 million for stock-based compensation expense), compared to net loss from continuing operations of $6.6 million for the same period in 2005 (which had no charge for stock-based compensation expense). On a per share…
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Source: HighBeam Research, DSL.net Reports Q-2, Year-to-Date 2006 Results.
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