Stock seems to be recovering, over $4 a share today. The earnings report released last week, and the drop in interest rates are both plusses.
Allied Riser Communications ('ARC') Reports 50% Revenue Growth in Fourth Quarter
DALLAS, Jan. 25 /PRNewswire/ -- Allied Riser Communications Corporation (Nasdaq: ARCC - news), one of the nation's leading providers of high-speed, IP-based broadband data applications and services, today announced substantial sequential revenue growth during the fourth quarter ended December 31, 2000.
Revenue for the quarter ended December 31, 2000, was $6,599,000, compared to revenue of $4,403,000 in the third quarter of 2000, a 50-percent sequential increase, and a nearly 650-percent increase compared to the same period last year. Revenue for the fourth quarter of 1999, was $881,000.
As of December 31, 2000, ARC had completed construction and installed its broadband communication infrastructure in buildings with potential customers occupying more than 300 million square feet of space.
``I am encouraged by our fourth quarter performance and I believe it demonstrates the continuing demand for our current product offering of ultra high-speed Internet and data services, content, and applications,'' said Jerry Dinsmore, ARC's president and chief executive officer. ``We enter 2001 with more than 3 times the constructed square footage when compared to the same period in 2000. We will continue our increased focus on deeper and broader penetration of this larger addressable market.'' |
