Alaska Communications Posts Strong Financials

(FinancialWire via COMTEX) -- March 16, 2013 (FinancialWire) -- Integrated communications services provider Alaska Communications Systems Group Inc. (NASDAQ: ALSK) recently reported fiscal fourth quarter (ending December) earnings of $0.18 per share, which was $0.11 better than the $0.07 per share market consensus estimate. Reported revenues rose 8.7% year-over-year to $95.1 million, versus the $89.13 million consensus expectation.

Commenting on the company's outlook going forward, management said, "Alaska Communications continues to target free cash flow for debt reduction, with debt net of cash and short term investments at $536.5 million and our leverage ratio for the twelve months ended December 31, 2012 at a multiple of just under four and one-half. Because our operating results in 2013 will be impacted by the timing of the AWN transaction, we are delaying providing full year 2013 guidance until we have established a firm closing date." The AWN transaction will result in approximately $65.0 million of debt pay downs at closing," management continued, "and our adjusted EBITDA following close will reflect the preferred distribution that we expect to generate from AWN." Alaska Communications Systems (approx market cap. US$ 75.6 mil.), through its subsidiaries, provides integrated communications services to business and consumer customers in Alaska and internationally. The company was founded in 1998 and is headquartered in Anchorage. Alaska Communications employs approximately 805 people.

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