Towerstream records net loss in 3Q

Fixed broadband wireless provider Towerstream, which plans to upgrade its proprietary fixed wireless technology to WiMAX, announced a net loss of $1.75 million, or 5 cents per share, on total revenues of $1.76 million.

Here's a rundown of the company's outlook: "We continue to stay on course for building our sales force and anticipate surpassing the 100 sales representative mark before the end of this year. This will give us the ability to begin opening additional markets early in the first quarter of 2008. We completed the build out of a 180 seat sales center ahead of schedule which allowed us to transition to our new facility without any downtime. The new training center, an important part of our call center complex, allows us to increase the size of our training classes, getting more reps through training and producing revenue quicker. Our metrics continue to hold and we are confident that the capital raised earlier this year will be sufficient to enable us to build out the top 20 Tier One markets in the United States on schedule," said Jeff Thompson, Towerstream president and CEO.

To read more about the company's results:
- check out this release