By midafternoon, shares had taken off 15.7% to $2.15.
The telecommunications provider reported a net loss of 10 cents a share. Analysts surveyed by Thomson Reuters had forecast per-share profits of 2 cents.
Revenue of $72.27 million was lower than expectations of $73.06 million.Must read: Warren Buffett's 10 Favorite Dividend Stocks STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. TheStreet Ratings team rates ALASKA COMMUNICATIONS SYS GP as a Hold with a ratings score of C. The team has this to say about their recommendation: "We rate ALASKA COMMUNICATIONS SYS GP (ALSK) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its notable return on equity, attractive valuation levels and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow and generally higher debt management risk."
- You can view the full analysis from the report here: ALSK Ratings Report