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.
ALSK stock info:
Last quote at close: $1.65
Last close vs. 50-day moving avg.: -5.2%
Last close vs. 200-day moving avg.: -18.7%
Last close vs. 52-wk high: -52.0%
3-mo. avg. daily volume: 378,810 shares
Approx. avg. daily money volume: $659,129
INDEPENDENT EQUITY RESEARCH for companies mentioned in the news is available through the Investrend Research Syndicate (at http://www.investrend.com/research/resources/).
Free ANNUAL REPORTS and COMPANY FILINGS for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/ level=279).
FIRSTALERT(tm), an adjunct dissemination of FinancialWire(tm), provides news summaries, special commentary and insight, as well as daily and weekly digests to the financial community.
FINANCIALWIRE(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation from subject companies, associated entities or individuals for its news, opinions or distributions. Contact FinancialWire(tm) directly via the FinancialWire(tm) website (at http://www.financialwire.net/contact/). Copyright (C) MMXIII, FinancialWire(tm); All rights reserved.
Stocks: Alaska Communications Systems Group Inc. (NASDAQ: ALSK)
[ Back To Technology News's Homepage ]