Alaska Communications Systems Group Inc. Provides Earnings Guidance for the Full Year 2015
Sep 30 15
Alaska Communications Systems Group Inc. provided earnings guidance for the full year 2015. For the period, the company expects total revenues to be about $220 million, with a run rate adjusted EBITDA exiting the year of $54 to $56 million and a capital spending at $34 to $36 million range and a net debt of about $159 million.
Alaska Communications Closes New $100 Million Senior Credit Facility
Sep 15 15
Alaska Communications closed the refinancing of its existing senior term loan on September 14, 2015. The company entered into $100 million of senior secured financing, including a $10 million revolving loan. The company used proceeds to pay off its outstanding $80 million term loan, fund fees and expenses associated with the refinancing, and for corporate purposes. CoBank and ING Capital LLC served as the lead arrangers on the financing.
Alaska Communications Systems Group Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Reaffirms Earnings Guidance for the Year 2015
Aug 10 15
Alaska Communications Systems Group Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total operating revenues of $55,665,000 compared to $80,558,000 a year ago. Operating loss was $4,375,000 compared to operating income of $10,726,000 a year ago. Loss before income tax was $8,615,000 compared to income before income tax of $2,060,000 a year ago. Net loss attributable to the company was $4,841,000 or $0.10 per diluted share compared to net income attributable to the company of $1,085,000 or $0.02 per diluted share a year ago. Net cash used by operating activities was $9,627,000 compared to net cash provided by operating activities of $6,227,000 a year ago. Capital expenditures were $20,233,000 compared to $10,710,000 a year ago. Adjusted EBITDA was $11,060,000 compared to $23,824,000 a year ago.
For the six months, the company reported total operating revenues of $121,451,000 compared to $158,889,000 a year ago. Operating income was $34,938,000 compared to $18,976,000 a year ago. Income before income tax was $20,676,000 compared to $1,461,000 a year ago. Net income attributable to the company was $11,376,000 or $0.22 per diluted share compared to $700,000 or $0.01 per diluted share a year ago. Net cash used by operating activities was $8,246,000 compared to net cash provided by operating activities of $20,053,000 a year ago. Capital expenditures were $26,133,000 compared to $17,874,000 a year ago. Adjusted EBITDA was $23,525,000 compared to $46,751,000 a year ago.
The company’s 2015 guidance is confirmed as follows: total service and other revenue of approximately $220 million; run rate adjusted EBITDA exiting 2015 of $54 million to $56 million; net capital expenditures range of $34 million to $36 million, inclusive of $16 million of success based capital and net debt at year end of approximately $159 million.
Alaska Communications and Akeela to Deliver Greater Access to Behavioral Health Throughout Alaska
Aug 10 15
Akeela will improve Alaskans access to health care with connectivity and Internet from Alaska Communications. Now, with connectivity from Alaska Communications, Akeela can provide the same level of care remotely to patients thousands of miles away using its private secure, reliable network to connect clinicians with patients via video conferencing and other telehealth tools. The partnership will especially benefit Akeela's rural programs, which now have the opportunity for real-time access to behavioral health practitioners through telemedicine. Residents can receive care without leaving town, which is critical in emergency situations.
Alaska Communications Systems Group, Inc. Announces Departure of James R. Johnsen, Senior Vice President, Human Resources and Process Transformation
Jul 29 15
On July 28, 2015, James R. Johnsen, Senior Vice President, Human Resources and Process Transformation notified Alaska Communications Systems Group Inc. of his departure from employment with the company effective July 31, 2015.