Fairpoint Communications, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Full Year 2015
Aug 5 15
Fairpoint Communications, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total revenue of $214,098,000 against $225,597,000 a year ago. Income from operations was $59,318,000 against loss from operations of $9,567,000 a year ago. Income before income taxes was $29,814,000 against loss before income taxes of $29,814,000 a year ago. Net income was $40,265,000 or $1.49 diluted per share against net loss of $22,680,000 or $0.86 diluted per share a year ago. Adjusted EBITDA was $63,664,000 compared to $64,234,000 a year earlier. Capital expenditures were $28,298,000 compared to $34,900,000 a year earlier.
For the six months, the company reported revenues of $428,072,000 against $456,154,000 a year ago. Loss from operations was $31,681,000 against $103,169,000 a year ago. Income from operations was $34,650,000 against loss from operations of $31,681,000 a year ago. Loss before income taxes was $4,871,000 against loss before income taxes of $71,721,000 a year ago. Net loss was $4,948,000 or $0.19 diluted per share against $54,917,000 or $2.08 diluted per share a year ago. Adjusted EBITDA was $152,344,000 compared to $128,409,000 a year earlier. Capital expenditures were $54,728,000 compared to $62,977,000 a year earlier. Net cash provided by operating activities were $29,637,000 compared to $55,741,000 a year earlier.
For full year 2015, the company now expects to generate $115 million to $125 million of Unlevered Free Cash Flow adjusted for Estimated Avoided Costs in the first quarter. The lower end of this guidance range has increased from $105 million in prior guidance. Unlevered Free Cash Flow refers to Adjusted EBITDA minus capital expenditures, pension contributions and cash payments for OPEB. In addition, annual capital expenditures are expected to be less than $120 million and aggregate annual pension contributions and OPEB payments are expected to be approximately $20 million. For the year, The company expects scheduled annual principal payments of $6.4 million and cash interest expense of $75 million to $77 million.
Fairpoint Communications, Inc. to Report Q2, 2015 Results on Aug 05, 2015
Jul 29 15
Fairpoint Communications, Inc. announced that they will report Q2, 2015 results at 4:30 PM, Eastern Daylight on Aug 05, 2015