Towerstream enters 10th market in Philadelphia

MIDDLETOWN – WiMax service provider Towerstream Corp. announced that its service is now available in Philadelphia.

The expansion makes the City of Brotherly Love Towerstream’s 10th market and will allow it to market its service to at least 64,250 more businesses, the company said.

Towerstream launched in its first two markets – Providence-New Bedford and Boston – in April 2001, two years after its founding. In addition to Philadelphia, it has expanded to seven other markets since then: New York, Chicago, Dallas-Fort Worth, Los Angeles, Seattle, San Francisco and Miami.

Six of the nine markets had positive EBITDA (earnings before interest, taxes, depreciation and amortization) in the nine months ended Sept. 30, topped by New York with $2.23 million in EBITDA on $3.86 million in revenue, according to Towerstream.

Miami, Seattle and Dallas-Fort Worth were the three markets with negative EBITDA, although Towerstream said Seattle had positive EBITDA in the third quarter.

“Moving into 2010, we look forward to building our presence in Philadelphia and other target markets throughout the United States,” said Jeff Thompson, Towerstream’s president and CEO. •