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Press Release -- February 16th, 2010
Source: PAETEC
Tags: Earnings

PAETEC Holding Corp. Announces Fourth Quarter and Full Year 2009 Results

PAETEC Holding Corp. today announced fourth quarter 2009 and full year 2009 financial and operating results.
FAIRPORT, N.Y. - February 16, 2010 (Print-friendly PDF file)

PAETEC Holding Corp. (NASDAQ GS: PAET) today announced fourth quarter 2009 and full year 2009 financial and operating results. "We are pleased to have met our revenue guidance and exceeded our adjusted EBITDA guidance for full year 2009," said Arunas A. Chesonis, chairman and CEO. "Our opportunistic issuance in January 2010 of $300.0 million of senior secured notes for the purpose of refinancing a portion of our existing debt strategically positions PAETEC financially for the next several years." Financial results for full year 2009 included the following:

  • Full year 2009 revenue of $1,580.2 million, a $9.8 million increase over full year 2008 revenue.
  • Full year 2009 adjusted EBITDA* of $256.9 million, an increase of 8.1% or $19.2 million over full year 2008 adjusted EBITDA of $237.7 million.
  • Full year 2009 net loss of $28.7 million compared to a $487.9 million net loss for full year 2008.
  • 28th consecutive quarter of positive free cash flow,* which increased by $17.2 million for full year 2009 to $135.4 million.
  • Full year 2009 net cash provided by operating activities of $152.2 million.
  • A cash balance of $152.9 million at December 31, 2009.

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About PAETEC
PAETEC (NASDAQ: PAET) is personalizing business communications for medium and large businesses, enterprise organizations and institutions across the United States. We offer a comprehensive suite of IP, voice, data, and Internet services, as well as enterprise communications management software, network security solutions, CPE, and managed services. For more information, visit www.paetec.com.

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