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Alaska Communications Systems Group, Inc. (“ACS”) (NASDAQ: ALSK) today reported financial results for its fourth quarter ended December 31, 2011.
“Our performance for the quarter and full year 2011 was solid. Execution discipline as demonstrated by our 2011 results has been and will remain an important theme as we implement our business plan,” said Anand Vadapalli, ACS president and chief executive officer. “During this past year, we provided updates on two external events – competitive with the proposed entry of a new wireless competitor, and regulatory with the new FCC universal service funding reform. Our business plan provides a path to address both of these external events; by positioning us to grow retail revenues and market share in Alaska, as well as de-levering our balance sheet. The basis of our business plan is our affirmative assessment of the growth potential and our position in the Alaska telecom market. We anticipate growing market share and retail revenues and driving free cash flow based on the following assessment:
1. We have a valuable asset mix of products and services and a differentiated broadband network. The focus of service delivery on this network has been Enterprise and Wireless customers. We will leverage this network to provide broadband solutions to three key customer segments – Enterprise, Small & Medium Business (SMB) and Consumer. Focus on these previously underserved customer segments will present growth opportunities for ACS.
2. In addition to growing our top line, we will improve customer retention by investing in customer service, as the economics of retaining a customer always prevail over the cost of adding a customer.
3. We will relentlessly simplify how we conduct business to drive free cash flow performance. We believe there are continued opportunities to manage costs, and we will invest in experienced process improvement teams and information technology systems upgrades to achieve these benefits.