Alaska Communications Systems Reports Third Quarter 2013 Results Growth in Wireline revenue, led by Broadband revenue growth of 19.4% Over $134.2 of net debt reductions on a year-to-date basis AWN transaction closed and monthly preferred distribution payments have commenced Guidance affirmed for the year, with free cash flow at the high end of range Business Wire ANCHORAGE, Alaska -- November 6, 2013 Alaska Communications Systems Group, Inc. (“ACS”) (NASDAQ: ALSK) today reported financial results for its third quarter ended September 30, 2013. “We are pleased to report steady performance to our business plan. Another quarter of solid broadband revenue performance has driven total wireline revenue growth, representing an important way we create value. Consistent with the other mechanism in our plan to create value by strengthening our balance sheet, we achieved meaningful de-leveraging and strong cash flows in this quarter. Closing the AWN transaction allows us to direct our capital more efficiently to further broadband growth,” said Anand Vadapalli, President and Chief Executive Officer of ACS. Year-Over-Year Financial Highlights for the Quarter: The third quarter represents the first reporting period following the Alaska Wireless Network, LLC (“AWN”) close and we encourage readers to review our press release schedules for description of changes in mapping of certain revenue categories. Further, we are providing additional supplemental information for readers to understand the AWN preferred distribution structure and its impact to our results. *Wireline revenues include business and wholesale, consumer and access revenues. We are focused on achieving growth in wireline revenues by driving broadband revenue performance. Wireline revenues were $50.1 million which increased by $0.6 million, or 1.2%. *Business and wholesale revenue increased $0.9 million, or 3.7%, which was driven by broadband revenue growth of 17.0%. *Consumer revenue increased $0.5 million, or 5.3%, with broadband revenue growth of 21.3%. *Access revenue declined, as expected, $0.9 million, or 5.7%, due to lower switched, special and other access revenue. *Wireless and backhaul revenue was $33.8 million and, as expected, declined year-over-year. *Retail service revenue declined $1.0 million, or 5.5%. *As expected, foreign roaming revenue declined $13.3 million, as roaming revenue moved to AWN. *CETC revenue increased 3.2%. CETC is now a pass-through under the AWN structure and has no impact on Adjusted EBITDA. *Adjusted EBITDA was $24.8 million and free cash flow was $3.5 million. The decline in Adjusted EBITDA compared to last year was anticipated following the close of AWN. *The AWN preferred distribution contributed $9.6 million to Adjusted EBITDA. *Free cash flow was impacted by higher levels of capital spending associated with the summer build season. *Net debt, which represents total debt less cash and cash equivalents, stands at $404.4 million. This represents a decrease of $134.2 million, or 24.9%, since December 31, 2012, evidencing commitment to deleveraging. Sequential Metric Highlights: Third Quarter 2013 Compared to Second Quarter 2013 *Business broadband connections increased by 112, or 0.6%, to 19,216 and business broadband ARPU remained relatively flat at $175.00. *Consumer broadband connections increased by 506, or 1.3%, to 38,117 and consumer broadband ARPU declined slightly by 1.2% to $48.63. *Consumer access lines declined by 1,716, or 3.3%, to 50,722 and business access lines decreased by 446, or 0.6%, to 80,071. *Wireless connections declined by 2,305, or 2.0%, to 112,114. Connections were impacted by 782 fewer lifeline customers associated with continued compliance with new certification rules, and 2,453 fewer post-pay connections of which 714 were non-revenue-generating-internal-use connections that were disconnected as part of the AWN transaction, partially offset by an increase of 930 in prepaid connections. *Wireless broadband ARPU increased 7.5%. Retail wireless ARPU declined slightly to $52.08. “This is the first quarter of results following the close of the AWN transaction, and we have provided additional information in this press release to enable readers to evaluate our performance under this new operating structure. During our upcoming conference call we will walk the readers through this information. Our path to deliver shareholder value is growing wireline and total broadband revenue, while strengthening the business through debt reductions. Our financial results are in-line with our expectations, with solid free cash flow generation for the year,” said Wayne Graham, Chief Financial Officer of ACS. Guidance for the year is as follows: Total revenue guidance is unchanged and expected to be $340 - $350 million. Adjusted EBITDA guidance is unchanged and expected to be $105 - $110 million. Capital spending, previously targeted to be around $50 million, is now expected to be moderately lower. Previous Free Cash Flow guidance of $20 - $25 million is unchanged and we are comfortable with the high end of the range. Guidance for 2014, with a full-year without the transition period of pre- and post-AWN ownership, will be provided when we report fourth quarter 2013 results. Conference Call The company will host a conference call and live webcast today at 5:00 p.m. Eastern time to discuss these results. Parties in the United States and Canada can access the call at 1-877-941-0843. Parties outside the United States and Canada can access the call at 1-480-629-9722. The live webcast of the conference call will be accessible from the "Events Calendar" section of the company's website (www.alsk.com). The webcast will be archived for a period of 90 days. A telephonic replay of the conference call will also be available two hours after the call and will run until December 31, 2013, at midnight Eastern time. To hear the replay, parties in the United States and Canada can call 1-800-406-7325 and enter pass code 4645116. Parties outside the United States and Canada can call 1-303-590-3030 and enter pass code 4645116. About Alaska Communications Alaska Communications is a leading provider of advanced broadband solutions for businesses and consumers in Alaska.We operate a highly reliable, advanced statewide data and voice network with the latest technology and the most diverse undersea fiber optic system connecting Alaska to the contiguous United States. For more information, visit www.alaskacommunications.com or www.alsk.com. Non-GAAP Measures In an effort to provide investors with additional information regarding the Company's results as determined by GAAP, the Company also discloses certain non-GAAP information which management utilizes to assess performance and believes provides useful information to investors. The Company has disclosed Adjusted EBITDA as net income before interest, loss on extinguishment of debt, depreciation and amortization, loss on sale of short-term investments, gain or loss on asset purchases or disposals, earnings on equity method investments, gains and distributions related to AWN, amortization of deferred AWN service revenue, provisions for taxes, stock-based compensation, and AWN transaction-related costs, and Adjusted EBITDA Margin, defined as Adjusted EBITDA divided by Operating Revenues. Additionally, the Company has disclosed Free cash flow as Adjusted EBITDA, less capital expenditures that create an obligation to pay (“incurred capital expenditures”), less amortization of deferred AWN capacity revenue, less AWN transaction-related capital costs, less cash interest expense. These measures are provided because the Company believes they are important indicators regarding our ability to make principal payments on debt and fund working capital. Adjusted EBITDA, Adjusted EBITDA Margin and Free cash flow are non-GAAP measures and should not be considered a substitute for net cash provided by operating activities and other measures of financial performance recorded in accordance with GAAP. Forward-Looking Statements This press release includes certain “forward-looking statements,” as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s beliefs as well as on a number of assumptions concerning future events made using information currently available to management. Readers are cautioned not to put undue reliance on such forward-looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside ACS’ control. Such factors include, without limitation, Verizon’s continued build out of their wireless network in Alaska, Universal Service Fund changes, AWN’s future financial and operational performance and the wholesale terms it establishes, adverse national economic conditions, adverse conditions in the credit markets impacting the cost, including interest rates, and/or availability of financing, adverse local economic conditions, including an unexpected downturn in the Alaskan oil and gas or tourism markets, changes in capital expenditures, the effects of competition in our markets, the entry of one or more additional facilities-based carriers into the Alaska market; the Company’s ability to complete, manage, integrate, market, maintain, and attract sufficient customers to the products and services it may deliver, adverse changes in labor matters, including workforce levels, labor negotiations, and benefits costs; disruption of our suppliers’ provisioning of critical products or services; the impact of natural or man-made disasters; changes in Company’s relationships with large carrier or enterprise customers; unforeseen changes in public policies; changes in accounting policies, including the Company’s application of regulatory accounting rules, which could result in an impact on earnings; or disruptive technological developments in the telecommunications industry. For further information regarding risks and uncertainties associated with ACS’ business, please refer to the Company’s SEC filings, including, but not limited to, the sections entitled "Risk Factors” and “Management's Discussion and Analysis of Financial Condition and Results of Operations” in our annual report on Form 10-K and quarterly reports on Form 10-Q. Copies of the Company’s SEC filings may be obtained by contacting its investor relations department at (907) 564-7556 or by visiting its investor relations website at www.alsk.com. Schedule 1 ALASKA COMMUNICATIONS SYSTEMS GROUP, INC. CONSOLIDATED SCHEDULE OF OPERATIONS (Unaudited, In Thousands Except Per Share Amounts) Three Months Ended Nine Months Ended September 30, September 30, 2013 2012 2013 2012 Operating $ 83,841 $ 96,750 $ 272,657 $ 272,709 revenues Operating expenses: Cost of services and sales, 44,720 36,346 117,371 111,602 inclusive of $11,228 of AWN Selling, general & 29,274 25,437 83,717 80,374 administrative Depreciation and 9,209 12,932 33,291 38,452 amortization (Income) loss on disposal of (132,109 ) (2,559 ) (131,483 ) (2,140 ) assets, net Earnings on equity method (8,082 ) (45 ) (8,061 ) (45 ) investments AWN excess (2,867 ) - (2,867 ) - distribution Total operating (59,855 ) 72,111 91,968 228,243 (income) expenses Operating 143,696 24,639 180,689 44,466 income Other income and expense: Interest (9,785 ) (10,268 ) (29,970 ) (29,203 ) expense Loss on extinguishment (2,094 ) - (2,370 ) (323 ) of debt Interest 19 9 37 31 income Other - - (13 ) - Total other income and (11,860 ) (10,259 ) (32,316 ) (29,495 ) expense Income before income tax 131,836 14,380 148,373 14,971 expense Income tax (54,238 ) (6,136 ) (29,613 ) (6,385 ) expense Net income $ 77,598 $ 8,244 $ 118,760 $ 8,586 Net income per share: Basic $ 1.65 $ 0.18 $ 2.55 $ 0.19 Diluted $ 1.33 $ 0.17 $ 2.09 $ 0.19 Weighted average shares outstanding: Basic 47,159 45,664 46,592 45,511 Diluted 59,346 59,437 58,816 45,806 Schedule 2 ALASKA COMMUNICATIONS SYSTEMS GROUP, INC. CONSOLIDATED BALANCE SHEETS (Unaudited, In Thousands Except Per Share Amounts) September 30, December 31, Assets 2013 2012 Current assets: Cash and cash equivalents $ 53,295 $ 16,839 Restricted cash 482 3,875 Short-term investments - 2,050 Accounts receivable-trade, net of 31,390 39,713 allowance of $5,744 and $6,231 Materials and supplies 12,112 9,409 Prepayments and other current assets 7,672 5,566 Deferred income taxes 1,478 8,301 Total current assets 106,429 85,753 Property, plant and equipment 1,345,048 1,463,320 Less: accumulated depreciation and (1,005,035 ) (1,052,459 ) amortization Property, plant and equipment, net 340,013 410,861 Goodwill 4,650 8,850 Intangible assets, net - 24,118 Debt issuance costs 7,502 10,558 Deferred income taxes 48,337 69,049 Equity method investments 207,566 2,028 Other assets 400 3,510 Total assets $ 714,897 $ 614,727 Liabilities and Stockholders' Equity (Deficit) Current liabilities: Current portion of long-term obligations $ 12,865 $ 21,628 Accounts payable, accrued and other current liabilities, inclusive of $3,926 61,033 56,378 of AWN Advance billings and customer deposits 8,837 8,970 Total current liabilities 82,735 86,976 Long-term obligations, net of current 444,782 533,772 portion Other long-term liabilities 93,571 28,662 Total liabilities 621,088 649,410 Commitments and contingencies Stockholders' equity (deficit): Common stock, $.01 par value; 145,000 486 458 authorized Additional paid in capital 151,784 144,377 Accumulated deficit (51,519 ) (170,279 ) Accumulated other comprehensive loss (6,942 ) (9,239 ) Total stockholders' equity (deficit) 93,809 (34,683 ) Total liabilities and stockholders' $ 714,897 $ 614,727 equity (deficit) Schedule 3 ALASKA COMMUNICATIONS SYSTEMS GROUP, INC. CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited, In Thousands) Three Months Ended Nine Months Ended September 30, September 30, 2013 2012 2013 2012 Cash Flows from Operating Activities: Net income $ 77,598 $ 8,244 $ 118,760 $ 8,586 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and 9,209 12,932 33,291 38,452 amortization Gain on sale/contribution (132,424 ) - (132,424 ) - of asset to AWN AWN excess (2,867 ) - (2,867 ) - distribution Gain on ineffective hedge 231 - (785 ) - adjustment Amortization of debt issuance 2,714 1,380 5,754 4,382 costs and debt discount Amortization of 1,082 - 1,948 - ineffective hedge Amortization of deferred AWN (738 ) - (738 ) - capacity revenue Stock-based 550 969 2,268 2,662 compensation Deferred income 53,640 6,136 29,015 6,385 taxes Provision for uncollectible 366 307 805 1,836 accounts Cash distribution from equity 5,389 32 5,389 32 method investments Earnings on equity method (8,082 ) (45 ) (8,061 ) (45 ) investments Other non-cash (2,572 ) (2,585 ) (1,710 ) (2,042 ) expense, net Changes in operating assets 7,161 (8,198 ) 6,096 (4,038 ) and liabilities Net cash provided by operating 11,257 19,172 56,741 56,210 activities Cash Flows from Investing Activities: Capital (13,717 ) (13,876 ) (27,314 ) (36,319 ) expenditures Capitalized (421 ) (567 ) (1,291 ) (1,396 ) interest Change in unsettled capital 553 (1,279 ) (3,276 ) (5,648 ) expenditures Proceeds on sale 2,812 2,923 4,747 2,923 of assets Proceeds on sale/contribution 100,000 - 100,000 - of asset to AWN AWN excess 2,867 - 2,867 - distribution Net change in short-term 525 - 2,037 - investments Change in unsettled (3,345 ) - (3,345 ) - acquisition costs Net change in restricted 3,345 (527 ) 3,393 (1,071 ) accounts Net cash provided (used) by 92,619 (13,326 ) 77,818 (41,511 ) investing activities Cash Flows from Financing Activities: Repayments of (67,001 ) (1,330 ) (97,382 ) (9,255 ) long-term debt Debt issuance (25 ) - (206 ) - costs Payment of cash dividend on - (2,285 ) - (6,831 ) common stock Payment of withholding taxes (2 ) (4 ) (632 ) (243 ) on stock-based compensation Proceeds from issuance of 2 (1 ) 117 179 common stock Net cash used by financing (67,026 ) (3,620 ) (98,103 ) (16,150 ) activities Change in cash and cash 36,850 2,226 36,456 (1,451 ) equivalents Cash and cash equivalents, 16,445 16,813 16,839 20,490 beginning of period Cash and cash equivalents, end $ 53,295 $ 19,039 $ 53,295 $ 19,039 of period Supplemental Cash Flow Data: Interest paid $ 6,818 $ 7,796 $ 25,201 $ 24,799 Extinguishment of hedging $ 4,073 $ - $ 4,073 $ - instrument Income tax paid $ - $ - $ - $ (24 ) (refunded), net Supplemental Non-cash Transactions: Property (retired) acquired under $ (19 ) $ - $ (17 ) $ (24 ) capital leases, net Dividend declared, but not $ - $ 2,286 $ - $ 2,286 paid Additions to ARO $ 43 $ 24 $ 180 $ 78 asset Exchange of debt $ 6,000 $ - $ 6,000 $ - with common stock Schedule 4 ALASKA COMMUNICATIONS SYSTEMS GROUP, INC. ADJUSTED EBITDA AND FREE CASH FLOW (Unaudited, In Thousands) Three Months Ended Nine Months Ended September 30, September 30, 2013 2012 2013 2012 Net income $ 77,598 $ 8,244 $ 118,760 $ 8,586 Add (subtract): Interest expense 9,785 10,268 29,970 29,203 Loss on extinguishment of 2,094 - 2,370 323 debt Interest income (19 ) (9 ) (37 ) (31 ) Depreciation and 9,209 12,932 33,291 38,452 amortization Loss on sale of short-term - - 13 - investments (Gain) loss on 315 (2,559 ) 941 (2,140 ) disposal of assets Earnings on equity method investment (18 ) (45 ) 3 (45 ) in TekMate Earnings on equity method investment (8,064 ) - (8,064 ) - in AWN Gain on sale/contribution (132,424 ) - (132,424 ) - of asset to AWN TekMate distribution - 32 - 32 received AWN excess (2,867 ) - (2,867 ) - distribution AWN distributions 5,389 - 5,389 - received AWN distributions receivable within 4,167 - 4,167 - 14 days Income tax expense 54,238 6,136 29,613 6,385 Stock-based compensation and 702 969 2,750 2,662 long-term cash incentives AWN transaction-related 4,702 587 5,974 5,046 costs Adjusted EBITDA $ 24,807 $ 36,555 $ 89,849 $ 88,473 Less: Incurred capital (13,717 ) (13,876 ) (27,314 ) (36,319 ) expenditures Amortization of deferred AWN (738 ) - (738 ) - capacity revenue AWN transaction-related - 342 (41 ) 342 capital costs, net change Cash interest (6,818 ) (7,796 ) (25,201 ) (24,799 ) expense Free cash flow $ 3,534 $ 15,225 $ 36,555 $ 27,697 Revenue $ 83,841 $ 96,750 $ 272,657 $ 272,709 Adjusted EBITDA 29.6 % 37.8 % 33.0 % 32.4 % Margin In an effort to provide investors with additional information regarding the Company's results as determined by GAAP, the Company also discloses certain non-GAAP information which management utilizes to assess performance and believes provides useful information to investors. The Company has disclosed Adjusted EBITDA as net income before interest, loss on extinguishment of debt, depreciation and amortization, loss on sale of short-term investments, gain or loss on asset purchases or disposals, earnings on equity method investments, gains and distributions related to AWN, amortization of deferred AWN service revenue, provisions for taxes, stock-based compensation, and AWN transaction-related costs, and Adjusted EBITDA Margin, defined as Note: Adjusted EBITDA divided by Operating Revenues. Additionally, the Company has disclosed Free cash flow as Adjusted EBITDA, less capital expenditures that create an obligation to pay (“incurred capital expenditures”), less amortization of deferred AWN capacity revenue, less AWN transaction-related capital costs, less cash interest expense. These measures are provided because the Company believes they are important indicators regarding our ability to make principal payments on debt and fund working capital. Adjusted EBITDA, Adjusted EBITDA Margin and Free cash flow are non-GAAP measures and should not be considered a substitute for net cash provided by operating activities and other measures of financial performance recorded in accordance with GAAP. Schedule 5 ALASKA COMMUNICATIONS SYSTEMS GROUP, INC. REVENUE GROWTH (Unaudited, In Thousands) Three Months Ended Nine Months Ended September 30, September 30, Wireline revenue 2013 2012 2013 2012 Business and wholesale Retail service revenue Voice $ 5,790 $ 5,967 $ 17,303 $ 18,046 Broadband 10,080 8,613 29,509 25,156 Equipment sales 480 311 1,340 927 Wholesale and other 9,193 9,736 28,288 29,686 Total business and 25,543 24,627 76,440 73,815 wholesale revenue Consumer Retail service revenue Voice 4,147 4,676 12,819 14,460 Broadband 5,596 4,613 16,443 13,469 Equipment sales 36 42 111 126 Other 478 413 1,275 971 Total consumer 10,257 9,744 30,648 29,026 revenue Access High cost support 4,984 5,087 13,558 15,041 Switched, special 9,273 10,024 28,056 30,503 and other access Total access 14,257 15,111 41,614 45,544 Total wireline 50,057 49,482 148,702 148,385 revenue Wireless and backhaul revenue Retail service revenue Voice 9,993 12,355 31,824 37,231 Broadband 7,680 6,340 21,783 17,892 Equipment sales 1,255 1,737 3,785 4,594 Foreign roaming 5,594 18,919 40,029 40,996 Other 1,441 1,132 3,591 3,227 CETC 5,139 4,979 16,093 15,669 Wireless backhaul 1,944 1,806 6,112 4,715 Amortization of deferred AWN 738 - 738 - capacity Total wireless and 33,784 47,268 123,955 124,324 backhaul revenue Total revenues $ 83,841 $ 96,750 $ 272,657 $ 272,709 Revenue Growth: Business and 3.7 % 3.6 % wholesale Consumer 5.3 % 5.6 % Wireline 1.2 % 0.2 % Total revenue -13.3 % 0.0 % Broadband 19.4 % 19.8 % Schedule 6 ALASKA COMMUNICATIONS SYSTEMS GROUP, INC. KEY OPERATING STATISTICS (Unaudited) Three Months Ended September 30, June 30, September 30, 2013 2013 2012 Voice: Consumer access lines 50,722 52,438 57,483 Business access lines 80,071 80,517 81,330 Voice ARPU consumer $ 26.81 $ 27.25 $ 26.65 Voice ARPU business $ 24.04 $ 23.93 $ 24.34 Broadband: (1) Consumer connections 38,117 37,611 36,152 Business connections (2) 19,216 19,104 18,605 ARPU consumer $ 48.63 $ 49.21 $ 41.73 ARPU business (2) $ 175.00 $ 174.87 $ 154.02 Wireless: Postpaid connections (3) 86,423 88,876 94,530 Lifeline connections 9,077 9,859 12,690 Prepaid connections 16,614 15,684 13,755 Total 112,114 114,419 120,975 Retail wireless ARPU $ 52.08 $ 52.68 $ 51.79 Wireless broadband ARPU $ 26.40 $ 24.55 $ 19.70 Churn: Voice connections (4) 1.4 % 1.3 % 1.4 % Broadband connections (1) 2.4 % 2.0 % 2.3 % (4) Wireless connections 3.2 % 2.4 % 2.0 % Wireless equipment subsidy (1,062 ) (3,463 ) (2,608 ) (1) Consumer and business broadband connections, ARPU, and churn have been restated to exclude dial up lines. Business broadband connections counts have been restated to correct how certain high bandwidth circuits types are measured. These change have no (2) affect on our financial results, but will affect connection count and ARPU amounts presented above compared to their presentation in prior periods. (3) September 30, 2013 Wireless connections have been reduced by 714, non-revenue generating, internal-use, connections. (4) Voice and broadband churn have been restated to exclude wholesale lines. Schedule 7 ALASKA COMMUNICATIONS SYSTEMS GROUP, INC. Summary AWN information (Unaudited, In Thousands) Alaska Wireless Network, LLC Stand Alone Selected Operating Results For the Period July 23, 2013 - September 30, 2013 Operating revenues $ 58,826 Operating expenses: Cost of services and sales 22,258 Selling, general & administrative 3,908 Depreciation and amortization 7,327 Total operating expenses 33,493 Operating income 25,333 Other income and (expense) (74 ) Net income 25,259 A Plus: Depreciation Expense 7,327 Other, net 753 Minus: Capital Spending 12,435 Management Fee to GCI 836 Adjusted Free Cash Flow $ 20,068 D Distributions paid or payable to ACS: (includes balance to be received with 12 days) 9,556 E Distributions to ACS as a proportion of Free Cash Flow: 47.6 % The above information reflects summary unaudited financial performance of AWN, which Alaska Communication owns a 33.3% ownership interest. Certain additional summary information is included in our Form 10-Q filings. Key AWN Results Included in the ACS Consolidated Balance Sheet: Equity method investment $ 205,542 Deferred AWN capacity revenue: $ 76,337 Accounts payable, accrued and other current liabilities $ 3,852 Other long-term liabilities $ 72,485 Investment in AWN represents the value of ACS's 1/3 ownership interest in AWN. Deferred revenue represents capacity contributions and the operations and maintenance support of these capacity contributions for AWN's network. The benefit of this deferred revenue is recognized over 20 years. Key AWN Results included in the ACS Consolidated Income Statement: AWN net income $ 25,259 A Adjusted for step-up in GCI assets (1,066 ) B AWN stepped-up earnings $ 24,193 C Adjusted Free Cash Flow $ 20,068 D Distributions paid or payable to ACS $ 9,556 E ACS ownership percentage of AWN 33.33 % F "Adjusted for step-up"(B) reflects the step up on basis on the GCI contributed assets to AWN and associated higher depreciation expense that ACS is required to incorporate in its consolidated financial statements. Earnings on equity method investment in AWN $ 8,064 C * F Distributions paid or payable to ACS $ 9,556 E Hypothetical distributions at 33.3% 6,689 D * F AWN excess distribution $ 2,867 AWN's stepped up net income is used to calculate the equity in earnings at ACS' 1/3 ownership percentage or $8,064. Additionally, an AWN excess distribution, or $2,867, is recognized in the quarter to reflect the disproportionate nature of the AWN preferred distributions. Key AWN Results Included in the ACS Non GAAP financial measures: Cash distributions received during the quarter $ 5,389 Less: Distributions received during the quarter related to - the previous period Plus: Distributions received within 14 business days of 4,167 quarter-end Amortization of deferred AWN capacity revenue 738 Equals AWN impact to Adjusted EBITDA $ 10,294 Less: Amortization of deferred AWN capacity revenue 738 Equals AWN impact to Free Cash Flow $ 9,556 In our non-GAAP reporting of Adjusted EBITDA, ACS is using our Senior Credit Agreement definition, as amended, for the AWN distribution, which is distributions received or eligible to be received within 14 business days. Contact: Alaska Communications Investors: Wayne Graham, 907-564-3314 Chief Financial Officer email@example.com
Alaska Communications Systems Reports Third Quarter 2013 Results
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