Last $7.77 USD
Change Today -0.18 / -2.26%
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As of 2:00 PM 03/4/15 All times are local (Market data is delayed by at least 15 minutes).

frontier communications corp (FTR) Key Developments

Frontier Communications Corporation Announces Management Changes

Frontier Communications Corporation announced that Daniel J. McCarthy, currently President and Chief Operating Officer and a member of the Board of Directors, will succeed Maggie Wilderotter and become President and Chief Executive Officer, effective April 3, 2015. Mrs. Wilderotter will transition to a new role as Executive Chairman of the Board of Directors. She will continue to work closely with Mr. McCarthy to ensure a seamless transition of leadership responsibilities. Mr. McCarthy has been with the company since 1990, and has served as Frontier's President and Chief Operating Officer since April 2012. He has served as a member of the Board of Directors since May 2014. In his capacity as President and COO, Mr. McCarthy has played an integral role in Frontier's successful transformation into a national communications services provider, operating in 28 states and with nearly 15 million addressable households. Most recently, Mr. McCarthy led the team negotiating the terms of the company's agreement to acquire Verizon's wireline voice, broadband and video operations in California, Florida and Texas for $10.54 billion. Mr. McCarthy is a Trustee of The Committee for Economic Development. He serves on the Board of Trustees of Sacred Heart University in Fairfield, Connecticut and is a member of the Western Connecticut Health Network Corporate Advisory Council.

Frontier Communications Corporation Presents at Morgan Stanley 2015 Technology, Media & Telecom Conference, Mar-02-2015 04:25 PM

Frontier Communications Corporation Presents at Morgan Stanley 2015 Technology, Media & Telecom Conference, Mar-02-2015 04:25 PM. Venue: The Palace Hotel, 2 New Montgomery Street, San Francisco, CA 94105, United States. Speakers: John M. Jureller, Chief Financial Officer and Executive Vice President.

Frontier Communications Corporation Announces Strategic Relationship With TiVo Inc

TiVo Inc. and Frontier Communications Corporation announced a multi-year partnership. Starting in mid-2015, Frontier will market and deploy co-branded versions of TiVo's suite of whole-home products and services, including an industry-first deployment of the TiVo Roamio DVR with over-the-air (OTA) support as part of its video offering for residential and business customers across multiple markets. The TiVo Roamio DVR receives content both over-the-air and over the Internet. The new partnership will enable Frontier's high-speed Internet customers to enjoy a consistent TV experience spanning major broadcast channels and over the top (OTT) content via TiVo's unified cloud-based service, a whole-home gateway DVR, TiVo Mini, TiVo Stream. Multi-screen and remote scheduling functionality will be available through TiVo Web, iOS and Android mobile applications.

Frontier Communications Corporation Provides Dividend Guidance for the First Quarter of 2015

Frontier Communications Corporation announced that dividend is paramount importance to its investors, and are delighted to be able to raise the dividend by 5% starting in the first quarter of 2015.

Frontier Communications Corporation Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Free Cash Flow and Capital Expenditure Guidance for the Full Year of Fiscal 2015

Frontier Communications Corporation reported consolidated earnings results for the fourth quarter and full year ended December 31, 2014. Revenues for the fourth quarter of 2014 were $1,330 million compared to $1,141 million in the third quarter of 2014 and $1,180 million in the fourth quarter of 2013. Revenue for the fourth quarter of 2014 increased sequentially by $189 million, or 17%, from the third quarter of 2014 and by $150 million, or 13%, from the fourth quarter of 2013. The increase in total revenue during the fourth quarter of 2014 is primarily due to the additional revenue of $216 million as a result of the Connecticut operations acquired on October 24, 2014 (the Connecticut Acquisition) and an increase in data services revenue, partially offset by declines in other revenue for the Frontier legacy operations. Operating income for the fourth quarter of 2014 was $173 million and operating income margin was 13.0% compared to operating income of $197 million and operating income margin of 17.3% in the third quarter of 2014 and operating income of $258 million and operating income margin of 21.8% in the fourth quarter of 2013. Net income attributable to common shareholders of Frontier was $14 million, or $0.01 per share, in the fourth quarter of 2014, compared to net income of $42 million, or $0.04 per share, in the third quarter of 2014 and net income of $68 million, or $0.07 per share, in the fourth quarter of 2013. Excluding the impact of the aforementioned items, non-GAAP adjusted net income attributable to common shareholders of Frontier for the fourth quarter of 2014 was $36 million, or $0.04 per share, as compared to $48 million, or $0.05 per share, in the third quarter of 2014 and $72 million, or $0.07 per share, in the fourth quarter of 2013. Capital expenditures for Frontier business operations were $159 million for the fourth quarter of 2014 compared to $151 million for the fourth quarter of 2013. Capital expenditures include $25 million related to the Connecticut operations during the fourth quarter of 2014. The company incurred $33 million in capital expenditures during the fourth quarter of 2014 related to integration activities in connection with the Connecticut Acquisition. Loss before income taxes was $1.506 million against income of $92.016 million a year ago. Adjusted operating cash flow was $568.407 million against $570.156 million a year ago. Capital expenditures for Frontier business operations were $572 million for the full year of 2014 compared to $635 million for the full year of 2013. The company incurred $116 million for the full year of 2014 related to integration activities in connection with the Connecticut Acquisition. Revenues were $4,772.490 million against $4,761.576 million a year ago. Operating income was $819.941 million against $980.721 million a year ago. Income before income taxes was $163.437 million against $162.720 million a year ago. Net income attributable to common shareholders of Frontier was $132.893 million or $0.13 basic per share against $112.835 million or $0.11 basic per share a year ago. Non-GAAP adjusted net income per common share attributable to common shareholders of Frontier was $0.18 against $0.24 per share a year ago. Net cash provided by operating activities was $1,270.072 million against $1,495.627 million a year ago. Capital expenditures - Business operations was $572.443 million against $634.685 million a year ago. Capital expenditures - Integration activities was $115.653 million. Adjusted operating cash flow was $2,084.376 million against $2,238.155 million a year ago. Adjusted non-GAAP net income was $185.698 million or $0.18 per share against $238.831 million or $0.24 per share a year ago. For the full year of 2015, the company’s expectation for free cash flow is $785 million to $825 million and for capital expenditures for Frontier business operations is $650 million to $700 million. The company expects that absent any further legislative changes in 2015, its 2015 cash taxes will be $175 million to $200 million.

 

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