|
COPYRIGHT 2003 Adams Business Media
April 30, 2003
Date of Last Report: February 26, 2003
US LEC CORP.
Ticker: CLEC: NASDAQ
Rating: BUY
Company Description:
US LEC Corp. is a competitive local exchange carrier (CLEC) providing voice, data and Internet services to over eleven thousand mid- to large-sized business customers throughout the southeastern and mid-Atlantic U.S. US LEC's network consists of 26 Lucent 5ESS AnyMedia digital switches, 25 Lucent CBX500 Asynchronous Transfer Mode (ATM) data switches, four Juniper Networks M20 Internet Gateway routers and an Alcatel MegaHub 600ES tandem switch. The company's service area includes Alabama, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, New Jersey, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia and the District of Columbia.
1Q03 EARNINGS REVIEW
US LEC reported another solid quarter, underscored by continued strong net adds, growth in end-user recurring revenue, EBITDA upside, and better-than-expected recurring FCF. End-user recurring revenues grew 9% QoQ to $47.6 million, now representing 65% of total revenues; total revenues grew 4% QoQ, with local up 5%, data up 21%, and toll up 13%. Revenues missed our estimate slightly due to forced churn, rather than pricing pressure or grooming of business by customers. The Eagle Communications ISP customer acquisition added $500,000 of...
Read the full article for free courtesy of your local library.
|
Bookmark this article
Print this article
Link to this article
Email this article
Digg It!
Add to del.icio.us
RSS
