** MFNX ** (up 20%) - just reaffirmed guidance and is presenting later today at the Saloman conference. Apparently expects to be EBITDA positive at the end of this quarter. From the news below,
"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."
Metromedia Fiber Network Provides Guidance for the Year 2002; Company Projects Continued Revenue Growth and Positive EBITDA
MONDAY, JANUARY 07, 2002 11:43 AM
- BusinessWire
NEW YORK, Jan 7, 2002 (BUSINESS WIRE) -- Metromedia Fiber Network, Inc. (MFN) (MFNX) , 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.
-- MFN provided capital expenditures guidance of approximately
$60 million to $70 million for 2002, excluding customer-funded
capital expenditures. Near term capital expenditures are being
driven by customer demand. The decrease in projected capital
expenditures for 2002 compared to the approximately $1.3
billion in capital expenditures projected for 2001 primarily
reflects the Company's network build-out being ahead of
schedule and the completion of substantially all of the
Company's data center build-out. The Company still expects to
have approximately 3.6 million fiber miles by the end of 2004.
About MFN
MFN is the leading provider of digital communications infrastructure solutions. The Company combines the most extensive metropolitan area fiber network with a global optical IP network, state-of-the-art data centers and award-winning managed services to deliver fully integrated, outsourced communications solutions to Global 2000 companies. The all-fiber infrastructure enables MFN customers to share vast amounts of information internally and externally over private networks and a global IP backbone, creating collaborative businesses that communicate at the speed of light.
Customers can take advantage of MFN's complete, end-to-end solution or select individual components to complement their existing infrastructures. By leasing MFN's metropolitan and regional fiber, customers can create their own, private optical network with virtually unlimited, un-metered bandwidth at a fixed fee. For more reliable, secure and high-performance Internet connectivity, customers can use MFN's private IP network to communicate globally without ever touching the public-switched network. Moreover, MFN's comprehensive managed services enable companies to create a world-class Internet presence, optimize complex sites and private optical networks, and transform legacy applications, all with a single point of contact.
One network. One infrastructure. One source.
For more information on MFN, please visit our Web site at www.mfn.com.
This news release contains forward-looking statements that involve risks and uncertainties. Factors that could cause or contribute to such risks and uncertainties include, but are not limited to, general economic and business conditions, competition, changes in technology and methods of marketing, and various other factors beyond the Company's control. This also includes such factors as are described from time to time in the SEC reports filed by Metromedia Fiber Network including the most recently filed Forms S-3, 10-K and 10-Q.
CONTACT: Media Relations:
Metromedia Fiber Network
Kara Carbone, 914/683-6386
kcarbone@mfn.com
or
Investor Relations:
Martin Cohen, 212/606-4389
URL: businesswire.com
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