- Grew commercial and carrier data and transport revenue by 5.2% year over year
- Delivered another strong quarter of data connections led by growth in Metro Ethernet
- Completed a refinancing reducing interest expense, extending maturities and increasing liquidity
- Closed on the acquisition of fiber-based Champaign Telephone Company and the sale of our rural Iowa ILEC
- Revenue was $191.5 million.
- Net cash from operations was $58.1 million.
- Adjusted EBITDA was $77.1 million.
- Dividend payout ratio was 74.4%.
- Total revenues were $191.5 million, compared to $194.0 million for the same period last year. Growth in strategic revenues were offset by declines in legacy voice revenues, network access and subsidy step-downs from CAF II and Texas USF support.
- Income from operations was $22.7 million, compared to $13.6 million in the third quarter of 2015. Included in the third quarter last year was $9.6 million of integration and severance charges tied to the Enventis synergy efforts and an early retirement offer made to, and accepted by, certain employees.
- Interest expense, net was $19.1 million compared to $19.2 million for the same period last year.
- Other income, net was $8.4 million, compared to $10.5 million for the same period in 2015.
- On a GAAP basis, net income and net income per share were $7.0 million and $0.14, respectively. Adjusted diluted net income per share excludes certain items in the manner described in the table provided in this release. Adjusted diluted net income per share was $0.16 for the current quarter, compared to $0.18 the same period last year.
- Cash distributions from our Verizon Wireless partnerships were $8.6 million compared to $20.0 million last year. The third quarter of 2015 included a non-recurring cash distribution for the partnership owned towers that Verizon sold to American Tower.
- Adjusted EBITDA was $77.1 million compared to $89.4 million for the same period in 2015. As mentioned above, the third quarter last year included non-recurring cash distributions from the Company's partnerships.
- The total net debt to last 12-month adjusted EBITDA ratio was 4.34.
- Revenues were $567.3 million, net cash from operating activities was $173.6 million and adjusted EBITDA was $233.7 million.
|2016 Updated Guidance||2016 Original Guidance|
|Cash Interest Expense||$72.0 million to $73.0 million||$73.0 million to $75.0 million|
|Cash Income Taxes||Less than $1.0 million||$1.0 million to $3.0 million|
|Capital Expenditures||$125.0 million to $130.0 million||$125.0 million to $130.0 million|