Genesis Communications Announces Continued Rise in Profitability with Record First Quarter Results.Business Editors SAN DIEGO--(BUSINESS WIRE)--May 8, 2002 Focus on Local and Long Distance Service Bundles for the Hispanic Market Yields Impressive Revenue Growth Genesis Communications International, Inc., a leading provider of local and long distance telecommunications services In telecommunication, the term telecommunications service has the following meanings: 1. Any service provided by a telecommunication provider. 2. to the Hispanic market, today announced record first-quarter earnings with an eight-fold increase in 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 over the same period last year. Retail revenue for the first quarter reached $4.6 million, up four percent from first quarter of 2001. The company attributed the earnings upswing Upswing An upward turn in a security's price after a period of falling prices. to its continued focus on selling core telecommunications services, including residential local and long distance, small-business long distance and prepaid pre·pay tr.v. pre·paid, pre·pay·ing, pre·pays To pay or pay for beforehand. pre·pay  ment n. local service to the underserved Hispanic community.
According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Derek M. Gietzen, president 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. of Genesis Communications, the rise in profitability demonstrates an ongoing commitment to providing value-added telecommunications services to its specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. customer segment. "As a service provider focused on the Hispanic market, we continually look for new services and innovative ways to package our offerings to meet the unique telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. needs of our customers," he explained. "As a result, we offer highly competitive telephone calling plans and local/long distance bundles that give us a distinct advantage in the market and enable us to continually improve our bottom-line profitability." The profitability increase achieved in the first quarter of 2002 was built upon 11 successive months of positive EBITDA for the company. In addition, Genesis experienced continued revenue growth in 2001 with gross revenue expanding to nearly $29 million. Local services revenue posted the strongest gains, doubling from year 2000 results to reach $7 million in 2001. As part of its ongoing efforts to focus on its core objectives, the company is concentrating more on local retail offerings and has closed its less-profitable carrier wholesale group. Other initiatives currently underway include opening sales offices in Mexico to complement state-side marketing efforts as well as developing new, specialized service bundles to accommodate its customers' growing prepaid telecommunications requirements. About Genesis Communications Founded in 1995, San Diego-based Genesis Communications International, Inc. is a facilities-based competitive carrier that provides local and long-distance services to Spanish-speaking customers in top markets nationwide including California, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New Jersey, Texas and Florida. With a strong focus on the Hispanic marketplace, the company employs more than 200 people and specializes in delivering competitive telecommunications services to a growing base of residential and small business customers. For more information, visit the company's web site at www.genesisld.com |
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