This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Frontier Communications’ Three-Year Investment In New York Tops $326 Million

Stocks in this article: FTR

Frontier Communications (NASDAQ:FTR) recently announced that the company’s three years of capital expenditures in New York hit a total of $326.1 million, including approximately $80 million in 2013.

In addition to Frontier’s own capital expenditures, many Frontier markets in New York will benefit from additional support totaling $8.1 million from the Federal Communications Commission’s Connect America Fund (CAF). CAF funding will allow Frontier to accelerate broadband availability and increase speeds in some of its very rural New York markets. Frontier offers broadband, digital phone service, satellite television service, Frontier satellite broadband, FTR Energy Services, customer premises equipment (telephone systems, support for commercial businesses and e-911 applications), Ethernet, Dedicated Internet Access, commercial cloud based voice solutions, data center services, and web security/data back-up/personal identity protection and more through Frontier Secure.

Frontier invested $326.1 million of its own capital during the past three years, with significant funding supporting engineering initiatives to increase broadband access and improve network infrastructure across the company’s 38-county New York territory. This investment is vital to continuing economic development, increasing opportunities for consumers, and supporting all types and sizes of businesses in the state.

“The impact of our investments in New York is felt throughout the communities we serve,” said Kevin Smith, Senior Vice President and General Manager of Frontier’s New York operations. “Our powerful network, driven by our dedicated teams who are residents and experts about the needs of their communities, is delivering solid benefits to our customers and shareholders. Our team is hitting their stride in New York, and there is more to come.”

Frontier’s operational and community-related highlights for New York in 2013 include:

  • Equipment upgrades to 13 Central New York switching offices and 97 remote locations. As a result, at year-end 2013, Frontier was able to offer faster broadband speeds to essentially 493,000 New York households.
  • Expansion of Frontier’s Ethernet network within the company’s rural territories, providing customers access for circuits up to 1 Gbps. Customers located in Fulton, Montgomery, Hamilton, Jefferson, Lewis, Oneida, Chenango, Madison, Delaware and Clinton counties will benefit from the build-out, which is anticipated to be completed by mid-2014.
  • For Upstate New York, the awarding of a New York State Broadband Grant to Frontier and Hamilton County to upgrade the data transport backbone between Gloversville and Eagle Bay, with Phase 1 of transport and equipment upgrades completed in 2013. As a result, Frontier is able to offer speeds up to 40 Mbps to residents and businesses working out of the enhanced sites. Phase 2 will expand coverage to 17 additional remote switches within the county, with anticipated completion in mid-2015.
  • The completion of a major upgrade to Frontier’s Layer 2 Metro-Ethernet network in the Rochester market. This upgrade ensures capacity to existing and future customers requesting 5 to 100 Mbps services.

Phil Yawman, Vice President and General Manager of Frontier’s greater Rochester operations, noted that the significant expansion of Frontier’s network in Rochester was in response to increased demand for advanced services. “We are continuing an aggressive schedule of state-of-the-art enhancements to our network to ensure our residential and commercial customers benefit from the latest technology and services.”

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • 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 Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs