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.
About Telergy;
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.
