Cogent Announces Second Quarter 2002 Financial Results
WASHINGTON, D.C., August 14, 2002 - Cogent Communications Group, Inc. (Amex: COI), a Tier One, next generation, optical Internet service provider, reported second quarter revenues of $18.6 million. Basic and diluted net loss per common share applicable to common stock was $(7.18) for the three months ended June 30, 2002.
About Cogent Communications
Cogent Communications (AMEX: COI) is a Tier 1, facilities based, all-optical ISP focused on delivering ultra-high speed Internet access and transport services to businesses in the multi-tenant marketplace and to service providers located in major metropolitan areas across the United States. Cogent's signature service offered to commercial end-users of 100 Mbps for $1,000 per month, offers 100 times the observed bandwidth of a T-1 connection at approximately two-thirds of the cost. The Cogent solution makes ultra-high speed Internet access an affordable reality for small and medium-sized businesses, as well as large enterprises and service providers. Cogent's facilities-based, all-optical end-to-end IP network enables non-oversubscribed 100 Mbps and 1000 Mbps connectivity for radically low, unmetered pricing levels.
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This news release contains forward-looking statements that involve risks and uncertainties. Factors that could cause or contribute to such risks and uncertainties include, but are not limited to, successful completion or expansion of the network, our connection to the Internet requires us to obtain and maintain relationships with other providers, our rights to the use of the dark fiber that make up our network may be affected by the financial health of our fiber providers, we often are limited in choices for metropolitan fiber suppliers and we will need to obtain or construct additional building laterals to connect buildings to our network. Additional general factors include competition, changes in technology and methods of marketing, and various other factors beyond the Company's control.