TowerStream Corp. (TWER)

[JAG626]

Towerstream Attains $414K of Adjusted EBITDA for Q2 2016

MIDDLETOWN, R.I., Aug. 09, 2016 (GLOBE NEWSWIRE) -- Towerstream Corporation (NASDAQ:TWER) (the "Company"), a leading Fixed-Wireless Fiber Alternative company, provided guidance for the quarter ending June 30, 2016.

Q2 2016 Guidance:

Adjusted EBITDA from Continuing Operations was $414K excluding non-recurring expenses for the quarter ended June 30, 2016. This exceeds the upper level of prior guidance.

Q2 cash burn is just under $2.0 million, an improvement on previous guidance. Cash burn in Q3 is expected to continue to drop to a range of $1.9M to 1.5M.