Z-Tel Technologies, a CLEC based in Tampa, Florida, reported substantially improved financial performance over the second half of 2002, which it attributed to operating improvements, improving margins, growing active line counts and lower bad debt expense. For Q4, Z-Tel reported revenues of $57.0 million, compared to $59.1 million for the prior year period, and EBITDA (earnings before interest, taxes, depreciation and amortization) of $2.2 million, compared to negative $3.9 million for the same period in 2001. Net loss for the fourth quarter of 2002 was $4.2 million, or $0.12 per share. At the end of February, Z-Tel had approximately 230,000 active retail lines in service, compared to approximately 203,000 active retail lines at the end of 2002. The active retail line count is up approximately 15% over year-end 2002. The company said it currently generates between $20 and $25 of monthly incremental EBITDA for every new retail line. If the retail line growth continues, Z-Tel predicts operating profitability by the mid to latter part of 2003.
http://www.ztel.com
- Z-Tel was formed around UNE-P with the vision of offering residential and business customers value-added bundles of local and long distance phone service with proprietary Internet-accessible calling and messaging features. Z-Tel also makes these services available on a wholesale basis.
