MIDDLETOWN – Fixed wireless service provider Towerstream Corp. (Nasdaq: TWER) reported a second-quarter net loss of $2.39 million today, compared with a loss of $130,934 in the same 2006 period.
Revenue for the company totaled $1.63 million, which represented a year-over-year increase of 2.9 percent.
President and CEO Jeff Thompson noted in a prepared statement that the company will continue to make investments throughout the third quarter to grow its sales force and corporate infrastructure “to prepare the company for significant sales growth in future quarters.”
In fact, the company increased the size of its call center sales force by 16 to 44 during the quarter, while hiring Mel Yarbrough to be vice president of sales in preparation of creating a national sales force of 400.
Thompson said that he expects the call center sales staff will reach 100 by the end of 2007.
The company completed a $40 million sale of common stock in June that is designed to give the company the resources to build itself out.
Towerstream Corp. provides WiMax wireless broadband services to businesses in the New York, Chicago, Miami, Los Angeles, San Francisco, Seattle, Boston and Providence/Newport markets. Additional information is available at www.towerstream.com.
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