Alaska Communications Systems Reports First Quarter 2014 Results

  Alaska Communications Systems Reports First Quarter 2014 Results

   -Total Service and Other Revenues increased $3.8 million or 7.7%, led by
                              Broadband growth-

                      -Adjusted EBITDA of $22.9 million-

                       -Free Cash Flow of $8.4 million-

-Deleveraging continues with over $13 million of repayments of long term debt-

Business Wire

ANCHORAGE, Alaska -- May 8, 2014

Alaska Communications Systems Group, Inc. (“ACS”) (NASDAQ: ALSK) today
reported financial results for its first quarter ended March 31, 2014.

“We are starting 2014 on strong footing, and have delivered solid results for
the quarter. Top line growth was robust, driven by continued strength in
broadband revenues, while EBITDA performance positions us well to meet our
guidance for the year. We continue to pay down debt ahead of schedule which
directly translates to shareholder value creation.

"Looking ahead, we are pleased with our performance in the market. We’ve seen
strategic customer wins which provide momentum for the rest of the year.
Further, since closing the TekMate transaction in January, sales have exceeded
expectations which bode well for continued growth in the managed services
area. We have a sound operating plan for the year and we are doing well
performing to our plan,” said Anand Vadapalli, president and CEO of Alaska
Communications.

Financial Highlights: First Quarter 2014 Compared to First Quarter 2013

  *The quarter experienced strong revenue performance in our key areas of
    focus:

o Business and wholesale service revenue of $26.4 million grew $1.8 million or
7.2%, with broadband revenues growing 17.1%.

o Consumer service revenue of $10.2 million grew $0.2 million, or 1.9%, with
broadband revenues growing 11.8%.

o Wireless revenue of $19.4 million, declined $0.8 million, or 4.2%, as
connections continued to decline.

  *Adjusted EBITDA was $22.9 million and is consistent with our overall
    guidance expectations for the year.
  *Free Cash Flow was strong at $8.4 million.
  *Persistent deleveraging continues, with debt balances of $444 million at
    the end of the quarter, compared to $456 million at December 31, 2013.
    Cash stands at approximately $32 million.

Metric Highlights: First Quarter 2014 Compared to Fourth Quarter 2013

  *Business broadband connections increased to 19,304 from 19,285 and
    business broadband ARPU increased to $191.21 from $181.77.
  *Consumer broadband connections increased to 39,468 from 38,677 and
    consumer broadband ARPU increased to $49.46 from $48.59.
  *Wireless subscribers decreased by 873 to 107,975 and Wireless ARPU
    decreased to $52.51 from $53.14.

“Our financial metrics for the quarter were strong, and our balance sheet is
strengthening as we pay down debt ahead of schedule while maintaining strong
cash reserves. As anticipated, total revenue of $78.3 million decreased $12.7
million reflecting the shift of $15.7 million in AWN revenue categories,
including roaming, which the company no longer reports but reside in its AWN
affiliate. Our focus is on Total Service and Other revenue, which grew $3.8
million or 7.7%. Close attention to cost management will result in continued
free cash flow performance which will be dedicated to further debt
reductions," said Wayne Graham, ACS chief financial officer.

2014 Guidance:

We reaffirm guidance for the year as follows:

Revenue is expected to be approximately $310 million.

Adjusted EBITDA is expected to be approximately $90 million.

Capital spending is expected to be approximately $40 million.

Free cash flow is expected to be approximately $20 million.

Conference Call

The company will host a conference call and live webcast on Friday, May 9,
2014 at 2:00 p.m. Eastern time to discuss the results. The live webcast will
include a slide presentation. Parties in the United States and Canada can
access the call at 1-877-941-8609. All other parties can access the call at
1-480-629-9692.

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 June 9,
2014 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 4678703. All
other parties can call 1-303-590-3030 and enter pass code 4678703.

About Alaska Communications

Alaska Communications (NASDAQ: ALSK) is a leading provider of advanced
broadband and managed service solutions for businesses and consumers in
Alaska. The company operates 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 http://www.alaskacommunications.com or http://www.alsk.com.

Non-GAAP Measures

In an effort to provide investors with additional information regarding our
financial results, in particular with regards to our liquidity and capital
resources, we have disclosed certain non-GAAP financial information such as
Adjusted EBITDA, Adjusted EBTDA margin and Free Cash Flow, which management
utilizes to assess performance and believes provides useful information to
investors. The definition of these non-GAAP measures are on Schedule 4 to this
press release. 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. Other companies may not calculate non-GAAP
measures in the same manner as ACS.

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 retail entry into the Alaska market, Universal Service
Fund changes, AWN’s financial and operational performance, 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 derive, adverse changes in labor
matters, including workforce levels, labor negotiations, and benefits costs,
disruption of our supplier’s 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, changes in revenue
from universal service funds, 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
                                                 March 31,
                                                    2014        2013     
                                                                
Operating revenues:
     Operating revenues, non-affiliates          $   76,545     $  90,996
     Operating revenues, affiliates *               1,786       63       
Total operating revenues                            78,331      91,059   
                                                                
Operating expenses:
     Cost of services and sales,                     30,058        35,319
     non-affiliates
     Cost of services and sales, affiliates          14,760        128
     *
     Selling, general & administrative               24,595        26,797
     Depreciation and amortization                   8,790         12,632
     Loss on disposal of assets, net                 401           41
     Earnings from equity method investments        (8,523  )    -        
Total operating expenses                            70,081      74,917   
                                                                
Operating income                                     8,250         16,142
                                                                
Other income and (expense):
     Interest expense                                (8,857  )     (10,029  )
     Interest income                                8           10       
Total other income and (expense)                    (8,849  )    (10,019  )
                                                                
(Loss) income before income tax benefit              (599    )     6,123
(expense)
                                                                
     Income tax benefit (expense)                   214         (2,655   )
                                                                
Net (loss) income                                $   (385    )  $  3,468    
                                                                
Net (loss) income per share:
     Basic                                       $   (0.01   )  $  0.08     
     Diluted                                     $   (0.01   )  $  0.07     
                                                                
Weighted average shares outstanding:
     Basic                                          48,913      46,055   
     Diluted                                        48,913      46,563   
                                                                
* Affiliate balances are related to activity with our equity method investees
TekMate and AWN


                                                              Schedule 2
                                                                 
ALASKA COMMUNICATIONS SYSTEMS GROUP, INC.
CONSOLIDATED BALANCE SHEETS
(Unaudited, In Thousands Except Per Share Amounts)
                                                                 
                                                   March 31,     December 31,
Assets                                              2014        2013      
                                                                 
Current assets:
  Cash and cash equivalents                        $ 31,920      $ 43,039
  Restricted cash                                    467           467
  Accounts receivable-trade, non-affiliates, net     33,864        34,066
  Materials and supplies                             10,784        10,131
  Prepayments and other current assets               7,413         7,300
  Deferred income taxes                             9,975       7,144     
              Total current assets                   94,423        102,147
                                                                 
Property, plant and equipment                        1,351,056     1,344,949
Less: accumulated depreciation and amortization     (999,300  )  (992,936  )
  Property, plant and equipment, net                 351,756       352,013
                                                                 
Goodwill                                             5,892         4,650
Debt issuance costs                                  6,226         6,929
Deferred income taxes                                12,435        15,572
Equity method investments                            262,130       266,972
Other assets                                        396         502       
Total assets                                       $ 733,258    $ 748,785   
                                                                 
Liabilities and Stockholders' Equity (Deficit)
Current liabilities:
  Current portion of long-term obligations         $ 4,798       $ 14,256
  Accounts payable, accrued and other current        51,170        55,475
  liabilities, non-affiliates
  Accounts payable, accrued and other current        17,725        14,566
  liabilities, affiliates, net *
  Advance billings and customer deposits            9,115       9,104     
              Total current liabilities              82,808        93,401
                                                                 
Long-term obligations, net of current portion        438,847       442,001
Other long-term liabilities                          15,558        16,947
Deferred AWN capacity revenue, net of current       62,422      63,263    
portion
Total liabilities                                   599,635     615,612   
Commitments and contingencies
Stockholders' equity (deficit):
  Common stock, $.01 par value; 145,000              494           487
  authorized
  Additional paid in capital                         152,258       152,193
  Accumulated deficit                                (14,283   )   (13,898   )
  Accumulated other comprehensive loss              (4,846    )  (5,609    )
              Total stockholders' equity             133,623       133,173
              (deficit)
                                                                 
Total liabilities and stockholders' equity         $ 733,258    $ 748,785   
(deficit)
                                                                 
* Affiliate balances are related to activity with our equity method investees
TekMate and AWN


                                                              Schedule 3
                                                                   
ALASKA COMMUNICATIONS SYSTEMS GROUP, INC.
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, In Thousands)
                                                                   
                                                       Three Months Ended
                                                       March 31,
                                                        2014      2013    
Cash Flows from Operating Activities:
  Net (loss) income                                    $ (385    ) $ 3,468
  Adjustments to reconcile net income to net cash
  provided by
  operating activities:
     Depreciation and amortization                       8,790       12,632
     Loss on the disposal of assets                      401         41
     Gain on ineffective hedge adjustment                -           (420    )
     Amortization of debt issuance costs and debt        1,398       1,426
     discount
     Amortization of ineffective hedge                   607         430
     Amortization of deferred AWN capacity revenue       (841    )   -
     Stock-based compensation                            653         1,219
     Deferred income taxes                               (227    )   2,655
     Provision for uncollectible accounts                565         268
     Cash distribution from equity method                8,523       -
     investments
     Earnings from equity method investments             (8,523  )   -
     Other non-cash expense, net                         (3      )   40
     Changes in operating assets and liabilities        2,868     3,809   
  Net cash provided by operating activities              13,826      25,568
                                                                   
Cash Flows from Investing Activities:
     Capital expenditures                                (7,164  )   (5,968  )
     Capitalized interest                                (738    )   (483    )
     Change in unsettled capital expenditures            (7,186  )   (3,151  )
     Proceeds on sale of assets                          -           1,935
     Return of capital from equity investment            4,010       -
     Non-cash acquisition, cash received                 68          -
     Net change in restricted accounts                  -         (1      )
  Net cash used by investing activities                  (11,010 )   (7,668  )
                                                                   
Cash Flows from Financing Activities:
     Repayments of long-term debt                        (13,354 )   (15,015 )
     Payment of withholding taxes on stock-based        (581    )  (630    )
     compensation
  Net cash used by financing activities                  (13,935 )   (15,645 )
                                                                   
Change in cash and cash equivalents                      (11,119 )   2,255
                                                                   
Cash and cash equivalents, beginning of period          43,039    16,839  
                                                                   
Cash and cash equivalents, end of period               $ 31,920   $ 19,094  
                                                                   
Supplemental Cash Flow Data:
  Interest paid                                        $ 6,562     $ 7,164
  Income tax paid (refunded), net                      $ 13        $ -
                                                                   
Supplemental Non-cash Transactions:
  Property (retired) acquired under capital leases,    $ 44        $ 2
  net
  Additions to ARO asset                               $ 214       $ 30
  Non-cash acquisition purchase price, net of cash     $ 1,850     $ -
  received
                                                                   

                                                               Schedule 4
                                                                   
ALASKA COMMUNICATIONS SYSTEMS GROUP, INC.
ADJUSTED EBITDA AND FREE CASH FLOW
(Unaudited, In Thousands)
                                                                   
                                                        Three Months Ended
                                                        March 31,
                                                         2014     2013   
                                                                   
Net (loss) income                                       $ (385   ) $ 3,468
  Add (subtract):
    Interest expense                                      8,857      10,029
    Interest income                                       (8     )   (10    )
    Depreciation and amortization                         8,790      12,632
    Loss on disposal of assets                            401        41
    Earnings from equity method investment in TekMate     (12    )   -
    Earnings from equity method investment in AWN         (8,511 )   -
    AWN distributions received                            12,500     -
    AWN distributions received for the prior period       (4,167 )   -
    AWN distributions receivable within 12 days           4,167      -
    Income tax expense (benefit)                          (214   )   2,655
    Stock-based compensation                              653        1,219
    Long-term cash incentives                             684        169
    AWN transaction-related costs                        172      845    
                                                                   
Adjusted EBITDA                                         $ 22,927  $ 31,048 
                                                                   
  Less:
    Incurred capital expenditures                         (7,164 )   (5,968 )
    Amortization of deferred AWN capacity revenue         (841   )   -
    AWN transaction-related capital costs, net change     -          (55    )
    Cash interest expense                                (6,562 )  (7,164 )
  Free cash flow                                        $ 8,360   $ 17,861 
                                                                   
Revenue                                                 $ 78,331  $ 91,059 
                                                                   
Adjusted EBITDA Margin                                    29.3   %   34.1   %

NonGAAP 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 the
impairment of equity investments, 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, provisions for taxes, AWN
transaction-related costs, stock-based compensation, and expenses under the
company’s long term cash incentive plan (“LTCI”). LTCI expenses are considered
part of an interim compensation structure to mitigate the dilutive impact of
additional share issuances for executive compensation. Distributions from AWN
are included in Adjusted EBITDA.

Adjusted EBITDA Margin, is defined as Adjusted EBITDA divided by Operating
Revenues.

Free cash flow is defined as Adjusted EBITDA, less capital expenditures that
create an obligation to pay (“incurred capital expenditures”), less
amortization of deferred AWN capacity revenue (a non cash revenue item), less
AWN transaction-related capital costs, less cash interest expense.

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. Other companies may not calculate Non-GAAP measures in
the same manner as ACS.


                                                              Schedule 5
                                                                
ALASKA COMMUNICATIONS SYSTEMS GROUP, INC.
REVENUE GROWTH
(Unaudited, In Thousands)
                                                                
                                                   Three Months Ended
                                                   March 31,
Service Revenue:                                    2014        2013
Business and Wholesale Customers
          Voice                                    $ 5,611      $  5,723
          Broadband                                  11,088        9,467
          Other                                      1,792         1,856
          Wholesale                                 7,913       7,591
          Business and Wholesale service revenue    26,404      24,637
                                                                
Consumer Customers
          Voice                                      3,876         4,319
          Broadband                                  5,861         5,242
          Other                                     423         414
          Consumer service revenue                   10,160        9,975
                                                                
Total Service Revenue                               36,564      34,612
Growth in Service Revenue                            5.6    %
Growth in Broadband Service Revenue                  15.2   %
                                                                
Other Revenue:
Equipment Sales                                      837           592
Access                                               8,993         9,515
High Cost Support                                   6,274       4,162
Total Service and Other Revenue                     52,668      48,881
Growth in Service and Other Revenue                  7.7    %
Growth excluding equipment sales                     7.3    %
                                                                
Wireless Revenue:
Business and Consumer service revenue                17,056        17,904
Equipment sales                                      1,004         1,248
Other                                                1,347         1,101
                                                                
AWN Related:
Foreign Roaming                                      -             15,026
Wireless Backhaul                                    70            1,975
CETC                                                 5,345         4,924
Amortization of deferred AWN capacity revenue       841         -
Total AWN Related                                   6,256       21,925
Total Wireless & AWN Related Revenue                25,663      42,178
                                                                
Total Revenue                                      $ 78,331    $  91,059
                                                                   

                                                            Schedule 6
                                                                 
      ALASKA COMMUNICATIONS SYSTEMS GROUP, INC.
      KEY OPERATING STATISTICS
      (Unaudited)
                                                                 
                             Three Months Ended
                             March 31,         December 31,      March 31,
                               2014            2013            2013     
                                                                 
      Voice:
           Consumer             48,165            49,297            54,037
           access lines
           Business             79,841            79,816            80,770
           access lines
                                                                 
           Voice ARPU        $  26.51          $  26.65          $  26.21
           consumer
           Voice ARPU        $  23.43          $  23.53          $  23.61
           business
                                                                 
      Broadband: (1)
           Consumer             39,468            38,677            37,310
           connections
           Business
           connections          19,304            19,285            18,794
           (2)
                                                                 
           ARPU consumer     $  49.46          $  48.59          $  46.57
           ARPU business     $  191.21         $  181.77         $  167.85
           (2)
                                                                 
      Wireless:
           Postpaid             86,238            85,982            90,363
           connections
           Lifeline             6,510             7,145             9,494
           connections
           Prepaid             15,227         15,721         14,234   
           connections
           Total               107,975        108,848        114,091  
                                                                 
           Retail            $  52.51          $  53.14          $  52.17
           wireless ARPU
                                                                 
      Churn:
                                                                 
           Voice
           connections          1.0      %        1.3      %        1.2      %
           (3)
           Broadband
           connections          1.9      %        2.1      %        1.9      %
           (1) (3)
           Wireless             3.0      %        3.4      %        2.6      %
           connections
                                                                 
                                                                 
      Wireless equipment        (463     )        (1,100   )        (3,527   )
      subsidy (4)
                                                                             
(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 circuit types are measured.These changes have no
(2)   material affect on our financial results, but will affect connection
      count and ARPU amounts presented above compared to their presentation in
      prior periods.
      
(3)   Voice and broadband churn have been restated to exclude wholesale lines.
      
(4)   For the quarters ending March 31, 2014 and December 31, 2013,
      respectively, these amounts are net of AWN subsidy reimbursement.
      

                                                               Schedule 7
                                                                   
ALASKA COMMUNICATIONS SYSTEMS GROUP, INC.
Long Term Debt
(Unaudited, In Thousands)
                                                                   
                                                       March 31
                                                        2014      2013    
  2010 senior credit facility term loan due 2016       $ 332,700   $ 429,375
  Debt discount - 2010 senior credit facility term       (1,479  )   (2,613  )
  loan due 2016
  6.25% convertible notes due 2018                       114,000     120,000
  Debt discount - 6.25% convertible notes due            (8,726  )   (11,131 )
  2018
  Capital leases and other long-term obligations        7,150     5,350   
                                                         443,645     540,981
  Less current                                          (4,798  )  (10,108 )
  portion
  Long-term obligations, net of current                $ 438,847  $ 530,873 
  portion
                                                                   
                                                                   
                                                                   
                                                                   
                         Maturities
                                                                   
                         2014 (April 1 - December      $ 952
                         31)
                         2015 (January 1 - December      15,417
                         31)
                         2016 (January 1 - December      318,788
                         31)
                         2017 (January 1 - December      506
                         31)
                         2018 (January 1 - December      114,287
                         31)
                         2019 (January 1 - December      278
                         31)
                         Thereafter                     3,622   
                                                       $ 453,850 
                                                                   

                                                                 Schedule 8
ALASKA COMMUNICATIONS SYSTEMS GROUP, INC.
Summary AWN information
(Unaudited, In Thousands)
                                                                             
Alaska Wireless Network, LLC
Stand Alone Selected Operating Results
                                                     
                                                        Q1 - 2014
Operating revenues                                      $ 63,037
                                                                             
Operating expenses:
            Cost of services and sales                  19,119
            Selling, general & administrative           5,954
            Depreciation and amortization               10,995    
                                                                             
Total operating expenses                                36,068
                                                                             
Operating income                                        26,969
                                                                             
Other income and (expense)                              (92       )          
                                                                             
Net income                                              26,877              A
                                                                             
Plus:       Depreciation Expense                        10,995
            Other, net                                  1,706
Minus:      Capital Spending                            3,639
            Management Fee to GCI                       1,438     
Adjusted Free Cash Flow                                 $ 34,501  
                                                                             
Distributions paid to ACS:                              12,500
                                                                             
                                                                             
Distributions to ACS as a proportion of FCF:            36.2      %          
                                                                             
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 and 10-K filings.
                                                                             

Wholesale Margin Contribution from AWN:           
             
Wireless business and consumer service revenue        $  17,056
                                                                           
AWN wholesale charges *                               $  11,905
Handset subsidy support *                                (2,664  )
Equipment subsidy                                        3,127
Other *                                                 235     
Total                                                 $  12,603
                                                                           
Wholesale Margin                                      $  4,453      26  %
                                                                           
* Balances are included under the caption Cost of services and sales,
affiliates on the consolidated statement of operations. Excluded from the
balances above is CETC, for which we pay an equivalent amount to AWN.
                                                                           
Key AWN Results included in the ACS Consolidated Income Statement:
                                                      Q4
AWN net income                                        $  26,877            A
Adjusted for step-up in GCI assets                      (1,345  )         B
AWN stepped-up earnings                               $  25,532            C
                                                                           
ACS ownership percentage of AWN                          33.33   %         D
"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           $  8,511            C *
                                                                           D
                                                                           
AWN's stepped up net income is used to calculate the equity in earnings at
ACS' 1/3 ownership percentage.
                                                                           
Key AWN Results Included in the ACS Non GAAP financial measures:
                                                      Q1
Cash distributions received during the quarter        $  12,500
Less:               Distributions received during the
                    quarter related to the
                    previous period                      (4,167  )
Plus:               Distributions received within 14     4,167
                    business days of quarter-end
                    Amortization of deferred AWN        841     
                    capacity revenue
Equals              AWN impact to Adjusted            $  13,341  
                    EBITDA
                                                                           
Less:               Amortization of deferred AWN        841     
                    capacity revenue
Equals              AWN impact to Free Cash           $  12,500  
                    Flow
                                                                           
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 Systems Group, Inc.
Heather Cavanaugh, APR,  907-564-7722
Director, Marketing and Corporate Communications
Heather.Cavanaugh@acsalaska.com
 
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