FiberTower revenue falling fast

Backhaul company FiberTower, on top of other reported problems, told creditors last month that it was losing about $180,000 in revenue per month. The company has been losing business from key client Clearwire, and also defaulted on a loan last month after missing an interest payment in November.

The San Francisco Business Times reported that FiberTower CFO Thomas Scott would soon leave the company. FiberTower has cut sales staff and other employees in recent months and reported more than $172 million in debt for the fourth quarter.

Both FiberTower and fellow backhaul company DragonWave took a hit last year when Clearwire slowed down it capital spending.

For more:
- read this San Francisco Business Times story

Related articles:
FiberTower saw business pressure coming in 2011
FiberTower missed an interest payment in November