- Achieved first year annualized synergy target of $20 million a full quarter ahead of plan
- Increased broadband (video and data) subscribers by 4,055
- Delivered strong financial results with a 13% increase in pro forma adjusted EBITDA on a year-over-year basis
- Provided another solid dividend payout ratio
MATTOON, Ill., May 9, 2013 (GLOBE NEWSWIRE) -- Consolidated Communications Holdings, Inc. (Nasdaq:CNSL) reported results for the first quarter 2013.
First quarter financial summary:
- Revenue was $156.3 million.
- Net cash from operations was $36.2 million.
- Adjusted EBITDA was $74.1 million.
- Dividend payout ratio was 62.4%.
"We had an outstanding quarter with strong financial results and continued operating and integration success," said Bob Currey, President and Chief Executive Officer. "Our strategy is working. The business is achieving solid growth with more diversified revenues and cash flows. We are delivering cash flow supporting the dividend and making success-based capital investments to sustain future growth.""Since we closed on the acquisition of SureWest in July of last year, we have accomplished a tremendous amount. We reached our first milestone target of $20 million in annual run-rate synergies a full quarter ahead of schedule. We are in great shape to exceed our targeted $25 million in annual run-rate synergies by June of next year," Currey concluded. Operating Statistics at March 31, 2013, Compared to pro forma March 31, 2012.
|Period Ended March 31,|
|ILEC access lines||265,855||277,051||(11,196)||(4.0%)|
|Voice connections (non-ILEC)||127,866||35,082||(7,216)||(5.3%)|
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV