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Tw Telecom Q3 Results

LITTLETON, Colo. -- tw telecom inc. (NASDAQ: TWTC), a leading provider of managed voice, Internet and data networking solutions for business customers, today announced its third quarter 2009 financial results, including $304.8 million of revenue, $109.4 million in Modified EBITDA1 (“M-EBITDA”), $33.8 million in levered free cash flow3 and net income of $7.7 million, or $0.05 per share.

“We grew revenue, achieved strong margins and generated increased cash flow, while maintaining healthy liquidity, demonstrating the strength of our model and our ability to execute,” said Larissa Herda, tw telecom’s Chairman, CEO and President. “We believe our continued investment in our people, products and infrastructure has been instrumental to maintaining growth throughout this recession and positions us well for when the economy recovers.”

Highlights for the Third Quarter 2009

  • Grew total revenue 5% year over year and 1% sequentially
  • Grew enterprise revenue 7% year over year and 2% sequentially
  • Grew data and Internet revenue 17% year over year and 4% sequentially
  • Grew M-EBITDA 7% year over year and up slightly sequentially
  • Achieved a 35.9% M-EBITDA margin, a 70 basis point improvement year over year
  • Grew EPS to $0.05 per share, a $0.05 improvement year over year
  • Delivered $33.8 million of levered free cash flow, representing 11% of revenue

Business Trends

“Overall business trends remained steady as we continue to evolve our product capabilities and optimize our operations with ongoing cost efficiency initiatives to grow and scale the business,” said Mark Peters, tw telecom’s Executive Vice President and Chief Financial Officer. The Company’s sales efforts allowed it to outsell the continued pressure of elevated churn and repricing for contract renewals. Customer demand remained solid as bookings7 for the quarter were the same level as last year.

tw telecom inc. (Nasdaq: TWTC)
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