Essex Communications Announces Continued Rapid Growth in September; Company is Growing By Over $1 million in Annual Revenues Each Month
NORWALK, CT, Oct 4, 1999 (BUSINESS WIRE) -- Essex Communications
announced today the successful continuation of its aggressive growth
plans. New customer access lines that were added during the month of
September exceeded the number of access lines added during the entire
fiscal quarter ended August 31, 1999. Essex Communications is a wholly
owned CLEC subsidiary of Sirco International Corp. (NASDAQ: ELEC).
Paul Riss, Sirco's CEO, stated, "We are very pleased with the growth in
our line count and revenues. Essex's annual revenue run rate is now
approximately $4 million per year. In each of the last two months we
have increased annualized revenues by over $1 million per year. We
expect the growth to continue for the foreseeable future. In addition,
approximately 70% of our new lines in September where provisioned
directly on-net as opposed to being resold. By the end of October we
expect that over 50% of our customer base will be on-net."
Sirco International Corp. is a publicly traded local telecommunications
company that is taking advantage of the convergence of the current and
future competitive technological and regulatory developments in the
Internet and telecommunications markets through the integration of its
wholly-owned subsidiaries, Essex Communications Inc. and WebQuill
Internet Services. The company provides an integrated suite of
communications services to small and medium-sized business customers,
including local, long distance, dial-up access, dedicated access, and
Web site design and hosting.
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