Press Releases

PAETEC Holding Corp. (NASDAQ GS: PAET), today announced first quarter 2009 financial and operating results.

PAETEC Holding Corp. (NASDAQ GS: PAET), today announced first quarter 2009 financial and operating results. "We're pleased with our first quarter results despite the difficult macroeconomic backdrop, and are well positioned to compete in virtually every major city in the U.S." said Arunas A. Chesonis, PAETEC chairman and CEO. "With today's official opening of our San Francisco Bay Area sales office, we will be competing in 83 of the top 100 MSAs." Highlights of the 2009 first quarter included the following:

• First quarter revenue of $399.3 million, which represented an 11.3% increase over first quarter 2008 revenue of $358.8 million;
• First quarter adjusted EBITDA* of $63.9 million, which represented a 7.5% increase over first quarter 2008 adjusted EBITDA of $59.5 million;
• First quarter free cash flow* of $33.9 million, which represented the 25th consecutive quarter in which PAETECor its predecessor generated positive free cash flow;
• First quarter net loss of $3.3 million compared to first quarter 2008 net loss of $3.0 million;
• First quarter net cash provided by operating activities of $11.2 million compared to first quarter 2008 net cash provided by operating activities of $2.6 million;
• The repurchase of 623,200 shares of common stock in first quarter 2009 for an aggregate cost of $764,853 or $1.23 average cost per share;and
• A cash balance of $144.0 million at March 31, 2009.