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Atlantic Tele-Network, Inc. Reports Second Quarter 2013 Results

Stocks in this article: ATNI

  • Total revenues were $175.1 million
  • Adjusted EBITDA was $45.9 million
  • Operating income was $20.1 million
  • Net income attributable to ATN's stockholders was $8.9 million, or $0.56 per diluted share

BEVERLY, Mass., July 30, 2013 (GLOBE NEWSWIRE) -- Atlantic Tele-Network, Inc. (Nasdaq:ATNI) today reported results for the second quarter ended June 30, 2013.

Second Quarter 2013 Financial Results

"Second quarter results reflected trends similar to those of the first quarter," said Michael Prior, Atlantic Tele-Network's Chief Executive Officer. "We achieved solid year-over-year increases in revenues and operating profitability in our legacy domestic wholesale wireless business, primarily driven by higher data volumes and certain shorter-term service revenues, which have more than offset the impact of the sale of our Midwest spectrum late in 2012. Second quarter results also benefited from stronger performance across all of our Island Wireless operations, where we have continued to grow our subscriber base and control costs. Wireline revenues were slightly below last year's second quarter as our domestic wireline business helped offset lower international long-distance revenue.

"We continue to expect the closing of our Alltel sale transaction to occur in the second half of this year, pending receipt of the necessary regulatory approvals. Second quarter operating trends in this business were consistent with those of the prior quarter, with revenue comparisons reflecting the impact of attrition in the postpaid customer base and significant declines in wholesale revenues within these markets."

Total revenues for the second quarter were $175.1 million, 5% below the $185.5 million reported for the second quarter of 2012. The year-over-year decrease resulted from lower U.S. wireless revenues in both the wholesale and retail lines of our Alltel business, as reported in the Company's U.S. Wireless segment, partially offset by higher revenues in our legacy U.S. wholesale wireless business, higher international wireless revenues and equipment sales.

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