Smart Telecom Reports First Quarter of Positive EBITDA
7/28/2009 12:00:00 AM
Significant Financial Progress made in 2009
Dublin, Ireland, 28 July, 2009: Smart Telecom (‘Smart’ or the ‘Company’) the Irish provider of voice, data and media communications services and owner of one of Ireland’s leading optic fibre networks today announced that it had achieved positive EBITDA (earnings before interest, taxes, depreciation and amortization) in the period covered from March through June 2009. This represents the first full quarter of positive EBITDA in the history of the company.
“We are extremely pleased to have achieved this significant financial milestone,” commented Brendan Hunt, CFO of Smart Telecom. “The restructuring plan we implemented in Q1 has achieved our initial objectives and we look forward to improving our trading profile in the year ahead. While we still have a number of challenges ahead of us, we are pleased to have crossed this important hurdle.”
Smart Telecom is a leading Irish provider of voice, data and media services to residential, government and corporate customers. Smart has a national reach and operates the only ‘Next Generation Network’ (‘NGN’) in the country making it Ireland’s fastest broadband provider. Smart currently serves over 12,000 residential and 500 corporate, government and medium sized business customers throughout Ireland.
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