from the donkey mouth (like I said mid-end 06)
from the y board
Thank you for your email and I apologize for the delay in responding.
Management is working very hard at trying to increase shareholder
value. I trust you listened to our quarterly conference call October
26 in which we discussed business growth:
2% q/q growth
$1M increase in VoIP revenue
6,000 VoIP stations added, a 21% increase
24,000 net broadband lines adds
$3.1M gain in broadband and VoIP subscription revenue
In addition, we've made several commitments to cutting costs,
including a 10% reduction in force.
This is, of course, just a sampling of the strides we're taking to
increase shareholder value. We are working hard to correct the
declining stock price but, unfortunately, there is no quick fix.
Quite simply, we MUST execute on our business plan. This includes
further growth as well as EBITDA profitability and cash flow positive
by mid-point and year end 2006 respectively.
Re: insider buying, four executives have purchased 94K shares in the
last two days.
Lastly, the American Stock Exchange does not have a minimum price per
share requirement.
I hope I have answered your questions. If you have any additional
questions, please don't hesitate to contact me.
Sincerely,
Robert
Robert Dougherty
Investor Relations
Covad Communications
(408) 952-7468 |
