Member Mention: tw telecom Reports Fourth Quarter and Full Year 2009 Results

March 2010

tw telecom inc. (NASDAQ: TWIC), a leading provider of managed voice, Internet and data networking solution for business customers, announced its fourth quarter 2009 financial results, including $307.9 million of revenue, $113.9 million in Modified EBITDA ("M-EBITDA"), $25.7 million in levered free cash flow and net income of $11.1 million, or $0.07 earnings per share.

For the year ended December 31, 2009, the Company reported $1.2 billion in revenue, $436.7 million of M-EBITDA, $97.5 million in levered free cash flow and net income of $27.6 million, or $0.19 earnings per share. "We delivered strong comprehensive financial and operational results in 2009," said Larissa Herda, tw telecom's Chairman, CEO and President.

"We grew revenue, drove strong margins higher, and generated increased cash flow, while we strategically invested and maintained healthy liquidity. In 2010, we plan to further invest in growth initiatives including equipping our networks with new capabilities, launching new products and services, and implementing tools to better serve enterprise customers. All of these initiatives are focused on capturing
greater market share and driving revenue growth."

Highlights for the Year – 2009 compared to 2008

Grew total revenue 5% year over year and enterprise revenue 8%
Grew M-EBITDA to $436.7 million, an increase of 9%
Achieved modified gross margin of 58.7%, an 80 basis point improvement
Achieved 36.0% M-EBITDA margin, a 160 basis point improvement
Achieved net income of $27.6 million, or $0.19 earnings per share for 2009,c ompared to a net loss of $7.3 million, or $0.05 loss per share for 2008
Delivered levered free cash flow of $97.5 million, or 8% of revenue, compared to $53.2 million, or 5% of revenue for 2008, an 84% improvement
Ended the year with $470.8 million in cash, equivalents, and short term investments, a 34% increase over December 31, 2008