July 29, 1999 16:59
AboveNet Reports Fourth Quarter Results
Revenues Up 47 % Over Prior Quarter
SAN JOSE, Calif., July 29 /PRNewswire/ -- AboveNet Communications Inc. (Nasdaq: ABOV), the architect
of a global one-hop network that brings together high-bandwidth content sites, ISPs, and Application Service
Providers in centralized co-location facilities, today announced financial results for the fourth fiscal quarter
and year ended June 30, 1999.
Revenues for the quarter ended June 30, 1999 were $5,670,400, an increase of 47 percent over revenues of
$3,851,200 for the quarter ended March 31, 1999, and a 315 percent increase over revenues of $1,367,600
for the quarter ended June 30, 1998.
The net loss for the quarter ended June 30, 1999 was $12,155,400, or $0.38 per share (on 32,168,600
weighted average shares outstanding), compared with a net loss for the quarter ended March 31, 1999 of
$5,856,400, or $0.22 per share (on 27,189,200 weighted average shares outstanding), and a net loss of
$2,596,000, or $ 3.90 per share (on 666,000 weighted average shares outstanding), for the quarter ended
June 30, 1998.
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