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Fireworks for DSL.net
Company celebrates successful IPO
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Business New Haven
11/29/1999
By: M.C.B
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New Haven's DSL.net Inc., a direct provider of high-speed Internet access, celebrated its initial public offering November 10 with a fete at its harborside offices culminating in a fireworks display over New Haven Harbor. In addition, Gov. John G. Rowland recognized November 10 as DSL.net Day in Connecticut.
The company, which delivers high-speed Internet access to businesses in smaller cities across the country, went public on October 6. It trades on the NASDAQ exchange under the symbol DSLN.
With a market capitalization now in excess of $1.3 billion, DSL.net was trading in the $18.50 -$22 range and as high as $25 this month. The company has about 150 employees.
DSL.net announced its third-quarter earnings on November 1 reflecting more-than-doubled third-quarter revenues to $317,000 in the most recent quarter.
Also during the period, the company increased its presence to 52 cities.
“These are exciting times for us,'' said David Struwas, the company's president and chief executive officer. “As one of the fastest growing companies in Connecticut, it's terrific to be recognized for what we have accomplished thus far. And to have the governor take the time to offer his congratulations, is very rewarding for DSL.net and all our employees.''
DSL.net, Inc. uses digital subscriber line (DSL) technology to provide high-speed Internet access solutions to small and medium-sized businesses. DSL.net hopes to establish services in second- and third-tier cities with populations of fewer than 900,000 throughout the U.S.
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