Towerstream continues to expand employee and customer base

Growth financed by $14.9 million raised in January and another $40 million raised in June

Middletown-based Towerstream, a broadband wireless provider, reported second quarter revenues of $1.6 million, a 2.6% increase.  Towerstream is RI's newest publicly traded company, having joined the Nasdaq Capital Market on June 1, and is ready to expand.

The company is aggressively hiring sales representatives, at a rate of 10 to 15 per month, said Jeff Thompson, the company’s president and chief executive officer, in a conference call with analysts. During the second quarter, the sales staff increased to 44 employees, from 28, he said.

As of now, the total number of employees is 85, with most of them in Rhode Island, Thompson said. About 54 are sales representatives.

The company could have as many as 250 sales reps in Rhode Island next year and another 250 at a planned call center on the West Coast.

Thompson said that Towerstream just finished a $450,000, 65-seat call center at its Middletown headquarters for its sales staff, and has just begun construction of another 180-seat call center to be completed this fall.

Full Story: Wireless company hits mark Source: Providence Journal, August 15th, 2007

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