GREENVILLE,NewSouth Communications, an Integrated Communications Provider (ICP), says it had positive operating cash flow for the month of April.
NewSouth, which offers facilities-based data and voice telecommunications services across the Southeast, says it is operating strongly for 2002, with revenue $4.8 million ahead of plan through last month.
For 2002, total revenues for the first quarter of $38.8 million represent an increase of 70% over the first quarter of 2001. On a market-basis, 22 of NewSouth’s 29 markets showed positive cash flow, and the company expects to continue its positive operating cash flow performance in the coming months.
“In a very challenging economy, NewSouth continues to see an incredible demand for our data and voice services,” James Akerhielm, president and chief executive officer, said in a statement. “NewSouth’s strong retail revenue growth coupled with
improved network efficiencies has worked to our advantage. Our positive operating cash flow achievement in April clearly demonstrates the strength of our business model.”
NewSouth Communications says it has streamlined internal systems and processes, enabling it to better serve customers and scale all facets of the business. Positive operating cash flow in April is particularly
significant since NewSouth’s first customer was installed less
than four years ago, Akerhielm added.
“We’re installing lines faster and with greater efficiency, and our customer attrition rates are among the lowest in the industry,” he said.
Headquartered in Greenville, SC, since 1997, NewSouth Communications is a privately held broadband ICP serving business customers in Florida, South Carolina, Tennessee, North Carolina, Georgia, Alabama, Kentucky, Mississippi, and Louisiana. The company offers data, Internet, voice, and other advanced communications solutions, as well as telecommunications equipment in select markets.
NewSouth Communications: www.newsouth.com