"GlobeNet continues to provide high quality, competitively priced telecommunications services in Bermuda, which is reflected in our growth in revenue and market share over last year. The Company is continuing to introduce new products and services as carrier costs are reduced with a goal of increasing revenues and improving bottom line performance," said Mike Kedar, Chairman and CEO of GlobeNet.
GlobeNet's mission is to provide innovative, seamless, city-to-city international telecommunications solutions to wholesale purchasers using the most technologically advanced undersea fiber optic facilities currently available. GlobeNet, through its operating subsidiary TeleBermuda International Limited, has been providing a full range of international telecommunications services in Bermuda since April, 1997, utilizing the company's BUS-1 undersea fiber optic cable system connecting the United States and Bermuda. TBI now carries over a third of all traffic generated in Bermuda and is rapidly establishing the necessary infrastructure to position the Island as a premier offshore location for supporting the explosive growth in E-commerce. GlobeNet trades on the Bermuda Stock Exchange under the symbol GLOCOM. GlobeNet Communications Group Limited is a Bermuda company, with its headquarters at 2 Carter's Bay Road, Southside, St. David's DD 02, Bermuda.
Copies of the audited year-end financial statements will be delivered to the shareholders prior to the Annual General Meeting. An earlier copy of these financial statements can be obtained from the Company by contacting Terri Vickers at (441) 296-9000. Any questions regarding the financial results can be directed to Greg Belbeck, CFO at (905) 470-0583, or Jeff Conyers of First Bermuda Securities at (441) 295-1330.