Their revenue is growing by leaps in bounds right now. They stated that their last Q was 50% of their entire growth last year. Plus their fiber network is fully funded by a gov loan at a 4% interest rate. Plus their legacy division had a million dollar uptick in growth last Q.
Revenue from the Company's Fiber-To-The-Premise (FTTP) business grew 30% to $3.4 million in the quarter ended September 30, 2011, as compared to approximately $2.6 million in the third quarter of 2010. Sequentially, FTTP revenues increased 12.4% as compared to the second quarter of 2011. FTTP revenues represented 23.4% of total revenues for the third quarter of 2011 as compared to 17.6% of total revenues for the third quarter of 2010.
Consolidated revenues for the quarter ended September 30, 2011 were $14.6 million, a decrease of 2.5%, compared to $15.0 million in the quarter ended September 30, 2010 but up 3.6% from $14.1 million in the second quarter of 2011. The year over year revenue decline is related to attrition in non-FTTP residential customers and legacy wholesale business.
For the first nine months of 2011, revenue from the Company's FTTP business grew 29% to $9.4 million from $7.3 million in the first nine months of 2010. Consolidated revenues for the nine months ended September 30, 2011 were $43 million, a decrease of 2.3% compared to consolidated revenues of $44.0 million in the nine months ended September 30, 2010.
The Company's total number of FTTP customers as of September 30, 2011 was 6,620 compared to 5,433 FTTP customers as of September 30, 2010 with sequential growth of 8% from 6,111 FTTP customers as of June 30, 2011.
Average Revenue Per User (ARPU) for all of the Company's fiber markets is approximately $392 per month for business customers and approximately $95 per month for residential customers.
Xfone has continued to make progress on construction of its PRIDE Network, a project almost entirely financed by $99.9 million in funds from the Federal Broadband Stimulus Program, of which 45.9% is in the form of grants and 54.1% is in the form of low cost long-term loans.
Then lets not forget that they closed another aquisition at the end of the last Q. It was supposed to close Dec 1st and they are going to be adding these customers to their fiber network starting at the beginning at this current Q.
During the quarter, Xfone brought its FTTP network to two new markets, Burkburnett and Brownfield, Texas and has seen robust customer acceptance of the Company's triple play offering. Likewise, Xfone continued to make excellent progress in the Littlefield, Texas market where it established its FTTP network during the second quarter and has sold to more than 30% of that market as of the end of the third quarter.
This company is showing explosive growth.
EBITDAS (earnings before interest, taxes, depreciation, amortization and stock-based compensation) for the third quarter of 2011 was $2.4 million, a 23.9% increase over the same quarter last year and a 12.5% increase sequentially when compared to the second quarter of 2011. EBITDAS margin in the quarter ended September 30, 2011 was 16.2% compared to EBITDAS margin of 12.7% for the quarter ended September 30, 2010.
Then they were actually able to produce net income.
The Company had net income of $871,000 or $0.04 per diluted share assuming 21,119,488 shares outstanding for the quarter ended September 30, 2011 compared to a net loss from continued operations of $1.5 million or a loss of $0.07 per diluted share assuming 21,169,288 shares outstanding for the quarter ended September 30, 2010.
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