Business Services Industry
eLEC Communications Passes 30,000 Residential and Business Subscribers; Achieves Increased Sub Growth for Traditional Phone and Next Generation VoIP Services
Business Wire, April 18, 2005
WHITE PLAINS, N.Y. -- eLEC Communications Corp. (OTCBB:ELEC), a CLEC and integrated packet communications service provider, today announced that it now serves over 30,000 residential and business lines for its local, long distance, and VoIP (voice over IP) services. eLEC's next generation VoIP services are provided through its wholly owned subsidiary VoX Communications, a premier packet communications services provider concentrating on VoIP residential and business applications nationwide.
"This has been an exciting and rewarding year for eLEC and its subsidiaries," said Paul Riss, eLEC's CEO. "Not only have we passed this 30,000 lines milestone, we have also achieved increases in our subscriber count and revenue growth over the past seven consecutive quarters, which underscores that we are generating great enthusiasm from businesses and consumers for our traditional phone services. We are now entering a new phase in the roll-out of our next generation VoIP offerings, which allow subscribers to take advantage of the cost-savings offered through packet telephony technology. We plan to update our VoX website and our service offerings this month to make our VoIP product available to a larger range of consumers and business partners."
Earlier this year, eLEC also signed long-term, multi-state wholesale services agreements with Qwest and Verizon that replace its existing wholesale network leasing arrangement known as the Unbundled Network Elements Platform (UNE-P). These agreements remove any regulatory uncertainty of eLEC's core business and give eLEC the ability to continue its rapid growth in providing local access services.
eLEC has a unique status among CLECs by having traditional TDM networks in addition to VoIP platforms and service offerings, which allows the company to take advantage of the convergence of technological and regulatory developments in the Internet and telecommunications markets.
About VoX Communications
VoX Communications is a wholly-owned subsidiary of eLEC Communications Corp., a 40-year old publicly held company. VoX provides enhanced Voice over IP (VoIP) telephone service to small business and residential customers who have a high-speed broadband Internet connection. VoX's VoIP service is a feature-rich, low-cost and high-quality alternative to traditional landline phone service. For more information, visit http://www.voxcommunication.net.
About eLEC Communications
eLEC Communications Corp., headquartered in White Plains, NY, is a publicly traded local telecommunications company that is taking advantage of the convergence of the technological and regulatory developments in the Internet and telecommunications markets. eLEC provides an integrated suite of communications services to business and residential customers, including local, long distance, dedicated access, and VoIP. For more information, visit http://www.elec.net.
This release contains forward-looking statements that involve risks and uncertainties. eLEC's actual results may differ materially from the results discussed in the forward-looking statements. Factors that might cause such a difference include, among others, certain risks and uncertainties over which the company may have no control. For further discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see the discussions contained in eLEC's Annual Report on Form 10-KSB for the year ended November 30, 2004 and any subsequent SEC filings.
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