GST Telecommunications Reports Third Quarter Revenues
Quarterly Revenues Increase 35 Percent; Core ICP Operations
Show Solid Growth
VANCOUVER, Wash., Oct. 28 /PRNewswire/ -- GST
Telecommunications, Inc. (Nasdaq: GSTX - news), a leading
Integrated Communications Provider (ICP) in California and
the western United States, today announced third quarter
revenues of $97.3 million, an increase of 35 percent over
revenues of $71.9 million reported for the previous quarter,
and a 122 percent increase over revenues of $43.8 million
reported for the corresponding quarter last year.
The Company reported adjusted Earnings Before Interest,
Taxes, Depreciation and Amortization (EBITDA) of $13.3
million, up from $1.7 million reported for the second quarter
of 1999. EBITDA was reported at $12.0 million, an $11.9
million improvement over the second quarter of this year. Net
loss per share declined from $(1.30) last quarter to $(.14)
per share for the three months ended September 30, 1999.
``I'm very pleased with the continued success and growth in
our core ICP operations,' stated Joe Basile, president and
chief executive officer of GST. ``In the markets where GST
provides facilities-based integrated communications services,
we have seen double-digit revenue growth and improved
adjusted EBITDA over the past five consecutive quarters,
including positive adjusted EBITDA for the past two quarters.
We are encouraged by the growth in these operations, and
expect the positive trends to continue.' (See Table 1.)
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