ZURICH, Switzerland, March 12, 2001 (PRIMEZONE) -- Carrier1 (NeuerMarkt:CJN) (Nasdaq:CONE), a leading European provider of end-to-end Internet, voice, bandwidth, data center and access solutions to large users of communication services, today announced that it is revising its previously released unaudited results for the twelve months and three months ended Dec. 31, 2000.
Carrier1 has determined, following further review of two infrastructure transactions, that revenue previously recorded in the fourth quarter of 2000 should be recorded in the first quarter of 2001 and in the third quarter of 2000. On an unaudited basis, this revision reduces previously released revenue by $2.2 million for the three months and by $1.2 million for the year ended Dec. 31, 2000, from $79.0 million to $76.8 million for the three months and from $265.1 million to $263.9 million for the year ended Dec. 31, 2000; the revision increases the previously released EBITDA loss by $0.8 million for the three months and $0.6 million for the year ended Dec. 31, 2000, from $6.9 million to $7.7 million for the three months and from $34.9 million to $35.5 million for the year ended Dec. 31, 2000; and the revision increases the net loss for such periods by $0.7 million for the three months and $0.6 million for the year ended Dec. 31, 2000, from $14.5 million to $15.2 million for the three months and from $104.2 million to $104.8 million for the year ended Dec. 31, 2000.
Forward-Looking Statement:
The information contained in this press release contains "forward-looking statements" within the meaning of the U.S. federal securities laws. These statements include those relating to our financial forecasts; the length of our contracted network; and the size, cost basis and timing for the implementation of the Company's infrastructure build-out. These statements are based on the current expectations of the management of Carrier 1 International S.A., and performance is subject to risks, uncertainties and other factors that could cause actual results to differ materially from these statements. Such risks include, but are not limited to, adverse regulatory, technological or competitive developments, decline in demand for the Company's services or products, inability to timely develop and introduce new technologies, products and services, pressure on pricing resulting from competition, unforeseen construction delays, and failure to receive on a timely basis necessary permits or other governmental approvals, and failure to obtain any necessary financing if management's business plan assumptions are not met, and failure of third parties with whom the Company has contracted including for the supply or maintenance of infrastructure components. For a more detailed discussion of these risks, uncertainties and other factors affecting the Company, please refer to the Company's prospectus and reports on Forms 10-K, 10-Q and 8-K filed with the U.S. Securities and Exchange Commission, including its 10-K for the year ended Dec. 31, 1999 and its 10-Qs for the 3-month period ended March 31, 2000, the 3-month period ended June 30, 2000, and the 3-month period ended Sept 30, 2000. Corresponding filings are available at the Frankfurt Stock Exchange.
About Carrier1
Carrier1 International S.A. is a leading European provider of end-to-end Internet, voice, bandwidth, data center and access solutions to large users of communication services. Carrier1 provides its clients with carrier-grade transport and network solutions as well as end-user-ready value-added services. Carrier1 customers brand and market these solutions and services to their respective end-users. The Carrier1 pan-European, inter-city fiber network connects 12 countries and currently spans more than approximately 14,000 contracted route kilometers, connecting points-of-presence in 35 European cities. Carrier1 is operational in all 12 countries and has secured all the necessary interconnects and operational licenses that allow it to provide network solutions and end-user-ready, value-added services. Carrier1 has completed 2 metro ring fiber networks and is currently constructing 6 metro ring fiber networks and expanding one existing metro fiber network. Carrier1 plans to build/acquire additional city-ring fiber networks. Carrier1 has space available for service in data center facilities and these co-location facilities are marketed under the name ClearSpace.