CTC Communications Activates Fiber Network in Boston, Massachusetts; PowerPath Customers in Downtown Boston Now Utilizing CTC's High Capacity Fiber.Business/Technology Editors BOSTON--(BUSINESS WIRE)--Aug. 7, 2001 CTC CTC - Cornell Theory Center Communications (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on NM: CPTL CPTL Compagnie des Pétroles Total Libye (Total SA Group Affiliates) CPTL Center for Trade Policy and Law (Carleton University; Ottawa, Canada) )-- today announced that it has activated its fiber optic network in its Bowdoin Square location. Bowdoin Square is the first of five downtown and metropolitan fiber nodes planned for service in the Boston area by September of this year. On-net customers in the Boston area will utilize this high speed, fully redundant, fiber access to CTC's PowerPath(SM) network. CTC's metropolitan and local fiber implementation is included in its fully funded business plan and is one of the key components enabling the Company's attainment of EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become positive results by year end 2001. It reduces the Company's dependence on leased Verizon interoffice in·ter·of·fice adj. Transmitted or taking place between offices, especially those of a single organization: an interoffice memo; interoffice conferences. facilities, improves provisioning intervals from approximately 90 days to 30 days and significantly reduces network costs by minimizing leased facility expense and improving operating efficiency. Existing downtown Boston customers will be moved from currently leased interoffice facilities to CTC's fiber in Bowdoin Square and all new network customers will utilize this new fiber access to CTC's PowerPath(SM) network. The same process will repeat as the additional four metropolitan Boston fiber nodes are placed in service progressively over the next six weeks. CTC purchased both long haul Long distance. Long haul implies traversing a state or a country. Contrast with short haul. and metro/suburban dark fiber under 20 year Irrefutable irrefutable - The opposite of refutable. Right of Use (IRU Iru (ī`r ), in the Bible, Caleb's eldest son. ) Agreements in late 2000 and 2001 from a variety of dark fiber suppliers. The Company is progressively taking delivery of this dark fiber, "lighting it up" using Cisco optronics and will be providing fiber access to its network in over 60 locations throughout the New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. and Mid-Atlantic states Mid-At·lan·tic States See Middle Atlantic States. Noun 1. Mid-Atlantic states - a region of the eastern United States comprising New York and New Jersey and Pennsylvania and Delaware and Maryland U.S.A. by year end 2001. Bob Fabbricatore, CTC's Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. stated, "Moving the power of our packet-based PowerPath(SM) Network and readily available high level bandwidth progressively closer and closer to our customer's locations is a cornerstone of our marketing and technology plan. Owning and operating the underlying fiber in our network provides CTC with the tools to effectively manage network costs while keeping pace with escalating demand for bandwidth, new applications delivery and improved speed to market. Fiber is an all around winner and a key component of the Company's technology mosaic that enables rapidly increasing on-switch customers and moving to profitability". About CTC Communications CTC is a rapidly growing "next generation" Integrated Communications Carrier utilizing advanced technology and providing its customers with converged voice, data, Internet and video services on a broadband, packet-based network. The Company serves medium and larger business customers from Virginia to Maine, which includes the most robust telecommunications region in the world--the Washington D.C. to Boston corridor. CTC was managing more than 535,000 access lines as of June 30, 2001. CTC's Cisco Powered IP+A(TM) packet network and its 450 member sales and service teams, provide contiguous marketing and technology coverage throughout the Northeast and Mid-Atlantic States. The Company, through its dedicated commitment to exceptional customer service, has achieved an industry-leading market share in the Northeast and an access line retention rate in excess of 99 percent. CTC can be found on the worldwide web at www.ctcnet.com. The statements in this press release that relate to future plans, events or performance are forward-looking statements that involve risk and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements including the deployment and activation of fiber access to the PowerPath(SM) network. reduced operating costs, migration of customers on-switch, improved margins, and attainment of positive EBITDA. Readers are, accordingly, cautioned not to place undue reliance on these forward-looking statements. Additional information about these risks and uncertainties is set forth in the Company's most recent report on Forms 10-K and 10Q. CTC undertakes no obligation to release publicly the results of any revisions to these forward-looking statements that may be made to reflect results, events or circumstances after the date hereof. |
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