DSL.net Secures Additional Availability Under Credit Facility.Business Editors NEW HAVEN New Haven, city (1990 pop. 130,474), New Haven co., S Conn., a port of entry where the Quinnipiac and other small rivers enter Long Island Sound; inc. 1784. Firearms and ammunition, clocks and watches, tools, rubber and paper products, and textiles are among the many , Conn.--(BUSINESS WIRE)--March 7, 2003 DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary .net, Inc. (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 : DSLN), a leading nationwide provider of broadband communications services to businesses, said today that it has secured additional availability under a previously announced $15 million revolving bank credit facility. The Company said it recently secured an additional $3 million in third-party guarantees under the facility - increasing the available amount from $6.1 to $9.1 million. The credit facility will be used for general corporate purposes. "We believe that obtaining this additional guarantee enhances our ability to continue to be successful in a competitive broadband marketplace," said Robert J. DeSantis, chief financial officer of DSL.net. "This successful financing is part of our ongoing efforts to fund the Company's growth, both internally and through strategic acquisitions." The $15 million credit facility has a five-year term. During the first two years, DSL.net will be able to draw funds on a revolving basis. At the end of this two-year period, any drawn amounts under the facility will be repaid over a three-year period. Availability under the facility is based on the amount of third-party guarantees received by the bank. About DSL.net Based in New Haven, Conn., DSL.net, Inc. combines its own DSL facilities, nationwide network infrastructure, and Tier I Internet Service Provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. (ISP (1) See in-system programmable. (2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines. ) capabilities to provide high-speed Internet See broadband. access and value-added services directly to small- and medium-sized businesses throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . A certified CLEC (Competitive Local Exchange Carrier) An organization offering local telephone service that is not one of the traditional telephone companies. The Telecommunications Act of 1996 allowed competition to the incumbent telcos (ILECs), enabling new companies (CLECs) in all 50 states, plus Washington, D.C. and Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. , DSL.net sells to businesses, primarily through its own direct sales channel. DSL.net augments its direct sales strategy through select system integrators, application service providers and marketing partners. In addition to a number of high-performance, high-speed Internet connectivity solutions specifically designed for businesses, DSL.net product offerings include Web hosting Making a Web site available on the Internet. Many ISPs host a few personal Web pages for an individual at no additional cost above the monthly service fee, but the address is subordinate to the ISP; for example, www.friendlyisp.com/pat_smith. , DNS (Domain Name System) A system for converting host names and domain names into IP addresses on the Internet or on local networks that use the TCP/IP protocol. For example, when a Web site address is given to the DNS either by typing a URL in a browser or behind the management, enhanced e-mail, online data backup and recovery services, firewalls, virtual private networks and nationwide dial-up services An information service on demand. The term was popular when analog modems were the only way to connect to a remote system. See dial-up. . For more information on DSL.net, visit www.dsl.net, e-mail info@dsl.net, or call 1-877-DSL-NET1 (1-877- 375-6381). This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are subject to a variety of risks and uncertainties, many of which are beyond DSL.net's control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. In particular, the risks and uncertainties include, among other things, (i) fluctuations in DSL.net's quarterly operating results, which could adversely affect the price of its common stock; (ii) DSL.net's unproven business model, which may not be successful; (iii) DSL.net's ability to execute its business plan in a timely manner to generate the forecasted financial and operating results and liquidity; (iv) DSL.net's need for additional funds during 2003, which may not be available on acceptable terms or at all, which could adversely impact DSL.net's ability to implement its business plan and continue its operations; (v) failure to generate sufficient revenue, contain certain discretionary spending, achieve certain other business plan objectives or obtain additional capital could have a material adverse effect on DSL.net's results of operations or financial position, or cause it to pursue strategic alternatives or discontinue some or a significant portion of its operations; (vi) risks associated with acquisitions, including difficulties in identifying and completing acquisitions, integrating acquired businesses or assets and realizing the revenue, earnings or synergies anticipated from any acquisitions; (vii) competition; (viii) risks associated with the possible removal of DSL.net's common stock from the Nasdaq SmallCap Market, which removal could adversely impact the pricing and trading of DSL.net's common stock; (ix) regulatory, legislative and judicial developments, which could adversely affect the way DSL.net operates its business; and (x) DSL.net's dependence on wholesale providers to provide it with local DSL and T1 facilities in areas where it has not deployed its own equipment. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. DSL.net undertakes no obligation, and disclaims any obligation, to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise. For additional information regarding these and other risks faced by DSL.net, see the disclosure contained under "Risk Factors" in DSL.net's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2001, which has been filed with the Securities and Exchange Commission. DSL.net is a trademark of DSL.net, Inc. Other company names may be trademarks of their respective owners. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion