Get Some Clue -- The MFNX Numbers Look Encouraging
Metromedia Fiber Network Provides Guidance for the Year 2002
Company Projects Continued Revenue Growth and Positive EBITDA
NEW YORK--(BUSINESS WIRE)--Jan. 7, 2002--Metromedia Fiber Network, Inc. (MFN) (Nasdaq: MFNX - news), the leading provider of digital communications infrastructure solutions announced guidance for 2002 and reaffirmed previously issued guidance for the fourth quarter of 2001.
The Company reaffirmed its previously issued fourth quarter revenue guidance of $100 million to $103 million, bringing its year 2001 revenues to $360 million to $363 million.
The Company reaffirmed its previously issued fourth quarter normalized EBITDA guidance of a loss of $3 million to $9 million, bringing its year 2001 normalized EBITDA to a loss of $133 million to $139 million (normalized EBITDA, or earnings before interest, taxes, depreciation and amortization and other non-cash expenses, is not a measure of performance used in generally accepted accounting principles and may be determined differently than similar metrics used by other companies). Normalized EBITDA guidance also excludes any one-time costs associated with the closing of the Company's October 2001 financing.
The Company reaffirmed its previously issued capital expenditure guidance of approximately $1.3 billion for the full year of 2001.
For 2002, the Company provided revenue guidance in the range of $510 million to $535 million.
MFN previously announced that it expected to become normalized EBITDA positive in early 2002. The Company provided more detail in that regard by announcing that it expects to become normalized EBITDA positive for the quarter ended March 31, 2002. For the year 2002, the Company expects normalized EBITDA to be in the range of $75 million to $90 million.
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