Consolidated Communications Holdings Inc. Announces Consolidated Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Interest Expense Guidance for the Year 2015
Feb 26 15
Consolidated Communications Holdings Inc. announced consolidated unaudited earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net revenues $186,014,000 against $147,956,000 a year ago. Increases in data and internet revenues and subsidies were more than offset by declines in local calling and network access revenues. Income from operations was $15,573,000 against $22,217,000 a year ago. The increase was primarily due to synergy realization from the Enventis acquisition and efficiency improvements. Loss from continuing operations before income taxes was $12,023,000 against income from continuing operations before income taxes of $5,509,000 a year ago. Loss from continuing operations was $10,670,000 against income from continuing operations of $3,216,000 a year ago. Net loss attributable to common shareholders was $10,706,000 against net income attributable to common shareholder of $3,140,000 a year ago. Net loss per basic and diluted share was $0.22 against net income per basic and diluted share of $0.08 a year ago. Net cash provided by operating activities was $54,421,000 against $43,715,000 a year ago. Purchase of property, plant and equipment net was $32,960,000 against $26,779,000 a year ago. Pro forma revenue was $192.6 million. Adjusted diluted net income per share for the current quarter was $0.16 compared to $0.15 for the prior year period. Adjusted EBITDA was $80.6 million compared to $82.3 million for the same period in 2013. Weighing all these factors and adjusting for certain items adjusted net income was $8 million.
For the full year, the company reported net revenues $635,738,000 against $601,577,000 a year ago. Income from operations was $91,189,000 against $103,661,000 a year ago. Income from continuing operations before income taxes was $28,415,000 against $47,476,000 a year ago. Income from continuing operations was $15,388,000 against $29,964,000 a year ago. Net income attributable to common shareholders was $15,067,000 against $30,811,000 a year ago. Net income per basic and diluted share was $0.35 against $0.76 a year ago. Net cash provided by operating activities was $187,785,000 against $164,356,000 a year ago. Purchase of property, plant and equipment net was $108,998,000 against $107,363,000 a year ago. Total net debt as of December 31, 2014 was $1,359,923,000. On pro forma basis, revenues were $790.7 million and adjusted EBITDA was $328.1 million.
The company provided earnings guidance for the year 2015. For the year, the company expects cash interest expense is to be in the range of $78 million to $81 million, cash income taxes is to be in the range of $4 million to $8 million and capital expense is to be in the range of $122 million to $129 million.
Consolidated Communications Holdings Inc. Declares Quarterly Dividend, Payable on May 1, 2015
Feb 26 15
On February 20, 2015, Consolidated Communications Holdings Inc.'s board of directors declared its next quarterly dividend of $0.38738 per common share, which is payable on May 1, 2015 to stockholders of record at the close of business on April 15, 2015.