ERF Wireless (ERFB) Energy Broadband Subsidiary Revenues Grow by 212% Year-over-Year
For the six month period ended June 30, 2011, ERF Wireless recently reported Positive Adjusted EBITDA of $1,136,000. The Company’s Energy Broadband subsidiary expanded significantly during the period, with revenues increasing by $800,000, or 212%. As a result of this growth, ERF Wireless was able to retire some $0.7 million in certain debt and capital leases, resulting in an overall $1.4 million decrease in current liabilities. CFO Richard Royall commented, "We continued to lay the foundation for future growth by partnering with other large wireless network operators to provide wireless broadband connectivity in regions where ERF Wireless does not currently…