Oak Brook, IL - October 8, 2003 - Looking Glass® Networks, Inc., a facilities-based provider of metropolitan telecommunications transport services, reports continued success and growth throughout 2003 with the expansion of its networks, increased connectivity and the addition of E-1 services to the company's already expansive offerings, among other significant accomplishments.
Looking Glass' continued momentum is the result of the company's unique approach to supplying traditional as well as emerging metro transport services that scale with demand. With fiber connectivity to more than 360 buildings and over 500 points of presence reaching more than 100 carriers, Looking Glass has expanded its network footprint and reach to meet customer demand.
"This is a very exciting time for us," said Lynn Refer, CEO, Looking Glass Networks. "Our customer base has grown every quarter and we now have over 230 enterprise and carrier customers who are pleased with our flexible network platforms and focus on customer service. The company's recurring revenue increased almost 400% since last year, our metro markets as a whole are now cash EBITDA positive and the entire company expects to be cash EBITDA positive by year end."
New Services and Network Expansion
Looking Glass recently added E-1 termination services in all of its markets, including point-to-point and hub/end link to its lit service offerings. E-1 is the European digital transmission format similar to the North American DS-1 but carries at a higher bandwidth speed of 2.048 mbps. This capability allows the company to address this growing demand at an attractive price point which complements its already expansive SONET/SDH, Wavelength and Ethernet lit services.
The company also now offers lit bandwidth services in Brooklyn, New York. This addition extends Looking Glass' footprint and connectivity throughout New York. This expansion follows other recent expansions such as the addition of San Jose in the first quarter of 2003 and the addition of Baltimore/Philadelphia at the end of 2002. Looking Glass plans to continue adding buildings and expanding its networks on a success basis as directed by customer demand.
First Company to Install Cisco ONS 15600
Looking Glass was the first service provider to install the Cisco ONS 15600 Multiservice Switching Platform, which has been deployed in Chicago, Dallas, Los Angeles, New York and Washington, DC. This platform for the core switches scales up to a bandwidth equivalent to 128 OC-48 links using a combination of OC-48s and OC-192s in one-third of a traditional equipment rack. This increased capability helps to enable the company to continue offering record intervals for service turn-up.
"The Cisco solution brings scalable bandwidth management to Looking Glass' metro optical networks, while simplifying operations and increasing efficiency of high bandwidth services," said Refer. "In fact bandwidth demands in New York have necessitated installation of our second ONS 15600 in less than nine months."
Looking Glass has also recently been awarded Cisco Powered Network status. Looking Glass' participation in the Cisco Powered Network program demonstrates to individuals and businesses its ability to provide industry-leading services that are based on Cisco solutions. Looking Glass also benefits from its Cisco Powered Network designation through joint marketing and technology sharing activities with Cisco.
Record Service Turn Up
Looking Glass continues its efforts to reduce provisioning intervals with service delivery times for On-Net lit services currently averaging 3-4 business days. The company has turned up service in as little as two hours with many On-Net customers receiving service the same day.
"Despite the turbulent telecommunications environment, Looking Glass experiences continued growth," said Brian Van Steen, Principal, PointEast Research. "The telecom landscape is constantly changing in ways that challenge the industry, and Looking Glass is adapting and expanding its network connectivity options to meet its customers' requirements. Owning its networks gives the company the ability to quickly meet these requirements," he added.
About Looking Glass Networks
Looking Glass Networks, Inc. provides rapid delivery of SONET/SDH, Wavelength and Ethernet-based lit services, high-capacity dark fiber and carrier-neutral collocation services in addition to custom design and build services for carrier and enterprise customers. A facilities-based company, Looking Glass builds, owns and operates metropolitan fiber optic networks using the most flexible optical and operational support systems available to provide telecommunication transport services in the largest U.S. metro areas. Looking Glass' physically diverse networks provide customers with connections to primary carrier hotels, ILEC Central Offices, key enterprise buildings and other major data aggregation facilities. With its unique protocol "agnostic" platform, Looking Glass delivers focused local network connectivity, flexible service options and fast delivery times to customers with significant bandwidth needs. For more information on Looking Glass Networks, visit www.lglass.net.
