Telergy, Inc., a privately-owned developer of high-speed fiber-optic networks and provider of bundled broadband services in the Northeastern U.S., announced it secured $62 million in contracted revenues during the first quarter of 2001 -- a 332 percent increase over the same period a year earlier. According to the Company, its total of $175 million in new contracts in the last two quarters has produced $102 million in cash received over the past four months.
The Company also said that, during the current quarter, it expects to meet its goal of completing a 2,700-mile fiber-optic network web serving North America's most population-dense corridor -- stretching from Montreal through New York, New Jersey, Pennsylvania and on to Washington, D.C. Telergy deploys its networks along utility rights-of-way.
The recent growth in Telergy's revenues -- contracted and in-cash -- results from several "dark fiber" agreements with major telecommunications companies, along with carrier wholesale revenues. In addition, the Company has generated $291 million in backlog revenues from private networks designed for major corporations and public institutions. These include a Wall Street investment banking firm and a group of educational institutions. Also, the Company was awarded major contracts for Phases I, II and III to provide a high-speed SONET-based data network for the New York State Unified Court System, and is delivering an advanced gigabit Ethernet network in the greater Albany area.
Founded in 1995 and headquartered in Syracuse, New York, Telergy began deploying a broadband high-speed fiber-optic network along utility rights-of-way with the purpose of achieving end-to-end last-mile connectivity for bundling advanced telecommunications and data services. For more information, visit www.telergy.net.