This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Atlantic Tele-Network, Inc. Reports Fourth Quarter And Full Year 2013 Results

Fourth Quarter 2013 Preliminary Financial Highlights:

  • Revenues increased to $76.5 million
  • Adjusted EBITDA was up 14% to $28.6 million
  • Operating income was $16.3 million
  • Net income from continuing operations attributable to ATN's stockholders was $16.2 million, or $1.02 per diluted share

Full Year 2013 Preliminary Financial Highlights:

  • Gain on the sale of Alltel operations attributable to ATN's stockholders was $278.2 million, net of tax
  • Revenues increased 5% to $292.3 million
  • Adjusted EBITDA was up 16% to $114.7 million
  • Operating income increased 14% to $64.4 million
  • Net income from continuing operations attributable to ATN's stockholders was $29.0 million, or $1.83 per diluted share, inclusive of transaction-related and debt repayment charges of $12.8 million

BEVERLY, Mass., Feb. 25, 2014 (GLOBE NEWSWIRE) -- Atlantic Tele-Network, Inc. (Nasdaq:ATNI) today reported results for the fourth quarter and year ended December 31, 2013. Unless otherwise indicated, the discussion of the Company's results is focused on its continuing operations, and comparisons are to the same period in the prior year. The Company's results are preliminary and may be subject to adjustment as the results of its International Integrated Telephony segment are finalized. The Company currently does not expect such adjustment, if any, to be material to its consolidated results of operations. Results for all periods presented reflect classification of the Company's U.S. retail wireless business operated under the "Alltel" name as discontinued operations as a result of the completion of the Company's sale of this business to AT&T Mobility LLC on September 20, 2013.

Fourth Quarter 2013 Financial Results

"We ended 2013 with another quarter of solid revenue growth driven by the continued strong performance of our domestic wholesale wireless business and our Island wireless operations," said Michael Prior, Chief Executive Officer. "Higher data traffic across our expanded U.S. wholesale wireless network more than compensated for the sale of Midwest U.S. spectrum and related assets that took place in last year's fourth quarter. International wireless revenues benefitted from continued subscriber growth, particularly in our Island Wireless markets, and our wireline revenue remained stable with the comparable year-ago period. All of our business segments posted improved EBITDA performance reflecting an ability to increase volumes without a commensurate increase in costs."

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs