Towerstream Corporation Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015; Provides Earnings Guidance for the Fourth Quarter of 2015
For the nine months, the company reported revenues of $23,615,000 against $24,946,000 a year ago. Operating loss was $21,283,000 against $18,992,000 a year ago. Net loss was $26,283,000 against $19,158,000 a year ago. Net loss per common share basic and diluted was $0.39 against $0.29 per share a year ago. Net cash used in operating activities was $11,643,000 against $9,174,000 a year ago. Adjusted EBITDA was $9,699,000 against $7,391,000 a year ago. Capital expenditures were $6,066,000 against $6,401,000 a year ago.
The company expects revenues for the fourth quarter 2015 are expected to range between $6.8 million to $7.2 million for the Fixed Wireless segment. Revenues for the fourth quarter 2015 are expected to range between $0.875 million to $1.15 million for the Shared Wireless Infrastructure segment. Cash burn for the fourth quarter of 2015 is expected to range between $4.5 million to $4.9 million.