KeyOn VoIP and Broadband Reports 2008 Record Revenue and Positive EBITDA in Q4 2008
KeyOn Communications Holdings, Inc. (OTCBB: KEYO), one of the largest providers of wireless broadband, satellite and VoIP services in the United States, reported record revenue as part its financial results for the year ended December 31, 2008.
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Commenting on the announcement, Jonathan Snyder, President and CEO of KeyOn Communications, stated, “In spite of challenging economic conditions, KeyOn was able to post record annual revenue in 2008. Moreover, we achieved a significant financial milestone in the fourth quarter, recording positive adjusted EBITDA of $64,725. Throughout the year, we continued to implement a series of actions to increase revenue, improve operating efficiencies and reduce expenses.”
Mr. Snyder continued, “In addition to our ongoing pursuit of additional accretive acquisitions, we are preparing our application to participate in the $7.2 billion stimulus funding targeted at providing broadband access to rural and under served areas throughout the United States. As part of the 2009 American Recovery and Reinvestment Act economic stimulus package, The National Telecommunications & Information Administration (NTIA) is issuing grants through the Broadband Technology and Opportunities Program (BTOP), and the Department of Agriculture’s Rural Utilities Service (RUS) program is offering grants, loans and loan guarantees that will fund the build-out of rural broadband for municipalities, state governments, utility companies, and rural telecom providers. With our proven track record as one the largest wireless broadband providers serving rural markets throughout eleven states, KeyOn is ideally positioned to participate in this unprecedented stimulus package.”
About KeyOn Communications Holdings, Inc.
KeyOn Communications Holdings Inc. (OTCBB: KEYO) is one of the largest providers of wireless broadband, satellite and voice over Internet protocol (VoIP) services in the United, primarily targeting underserved markets with populations generally less than 50,000. KeyOn offers broadband services with VoIP and satellite video services to both residential and business subscribers across 11 Western and Midwestern states. Through a combination of organic growth and acquisitions, KeyOn has expanded its network footprint to reach approximately 50,000 square miles and cover nearly 2,500,000 people as well as small-to-medium businesses. With its successful track record of acquiring companies and growing its core subscriber base, KeyOn is one of the leading wireless broadband companies in the United States. Management intends to drive subscriber growth through additional acquisitions as well as organic growth across the company’s expanding footprint by offering bundled services including broadband, video and VoIP and related valuable services such as the Bullseye Club. The company also intends to opportunistically build mobile and/or nomadic WiMAX networks in and around its market footprint. More information on KeyOn can be found at http://www.keyon.com.