ITC^DeltaCom, a CLEC based in West Point, Georgia, reported Q2 revenues of $102.5 million, up 3.4% over Q1 — this marks the first quarter-over-quarter growth since the first quarter of 2002. ITC^DeltaCom saw increased revenues generated by both retail customers and wholesale customers, and it improved cash flow from operations to $14.3 million in Q2 from $6.0 million in Q1 2003. During Q2, ITC^DeltaCom passed the 20,000 business customer mark and exceeded 11,000 consumer accounts for a new consumer service.
http://www.itcdeltacom.com
- In July 2003, ITC^DeltaCom and BTI Telecom Corp. agreed to merge in a transaction that will establish the combined company as the largest CLEC in the southeastern U.S. Entering into 2004, the combined company, which will retain the name ITC^DeltaCom, is expected to have a total revenue run-rate of approximately $630 to $660 million and an improved free cash flow positive position. The combined company will maintain branch offices in approximately 40 markets in the southern U.S. and will serve more than 50,000 customers. At the merger closing, Welsh, Carson, Anderson & Stowe (Welsh Carson) will invest $35 million in the company. Welsh Carson currently is a significant stockholder in ITC^DeltaCom and a majority stockholder in BTI.
BTI Telecom is a privately-held company based in Raleigh, North Carolina. It owns and operates a network covering 4,400 route miles of lit fiber for extensive regional penetration, with 14 Lucent Technologies 5E 2000 digital local switches to serve local markets, as well as four network operations centers with Alcatel 600E digital long distance switches. BTI claims 32,000 customers.
ITC^DeltaCom is a public company based in West Point, Georgia. It operates 35 branch offices in nine states, and its 10-state fiber optic network of approximately 10,088 miles reaches approximately 188 POPs. ITC^DeltaCom claims 20,000 customers and reported 2002 revenues of $415 million.
