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Last $17.81 USD
Change Today +0.11 / 0.62%
Volume 44.3K
FRP On Other Exchanges
As of 8:10 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

fairpoint communications inc (FRP) Snapshot

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04/17/15 - $20.98
52 Week Low
08/5/14 - $13.05
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fairpoint communications inc (FRP) Details

FairPoint Communications, Inc. provides data, voice, and communication services in the United States. It provides high capacity data services comprising optical, Ethernet, IP services, and Ethernet virtual circuit technology for cellular backhaul; and private line special access services, as well as hosted primary branch exchange services over its Ethernet network. The company also offers Internet services, including cable modem Internet service, and fiber to the home and wireless Internet access services to business and wholesale customers. In addition, it provides local calling services, such as basic local lines and local private lines; and long distance and wholesale long distance services to communications providers. Further, the company offers network transport services, including special access services, such as DS-1 and DS-3 services; and high speed digital services comprising Ethernet-based services provisioned over fiber and copper facilities, as well as network switched, intrastate, and intrastate access services. Additionally, it publishes telephone directories; and offers video services to its customers by reselling DirectTV content, as well as providing cable and IP television video-over-digital subscriber line. The company also provides value added and convenience-based services, including power utility offerings through a marketing arrangement, and conference calling services for business and residential customers; and project-based implementation support services. As of December 31, 2014, the company operated approximately 1.1 million access line equivalents, including approximately 322,000 broadband subscribers in 17 states. It also owns and operates a fiber network with approximately 16,000 miles of fiber optic cable in Maine, New Hampshire, and Vermont. The company was incorporated in 1991 and is headquartered in Charlotte, North Carolina.

3,052 Employees
Last Reported Date: 03/4/15
Founded in 1991

fairpoint communications inc (FRP) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: $815.0K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $401.6K
Chief Revenue Officer and Executive Vice Pres...
Total Annual Compensation: $337.2K
Executive Vice President of External Affairs ...
Total Annual Compensation: $336.4K
Executive Vice President, General Counsel and...
Total Annual Compensation: $325.6K
Compensation as of Fiscal Year 2014.

fairpoint communications inc (FRP) Key Developments

Fairpoint Communications Announces Reduction of 260 Positions and Closes its Call Center in South Burlington, Vermont

FairPoint Communications, Inc. announced workforce restructuring actions that will result in a reduction of approximately 260 positions across the 17 states in which it operates, including the closing of its call center in South Burlington, Vermont. This action, combined with other headcount reductions over the past two years, approximates the level of voice line loss the company has experienced in that period.

Fairpoint Communications, Inc. Presents at Jefferies 2015 Global Technology, Media and Telecom Conference, May-13-2015 01:30 PM

Fairpoint Communications, Inc. Presents at Jefferies 2015 Global Technology, Media and Telecom Conference, May-13-2015 01:30 PM. Venue: Mandarin Oriental Brickell, Miami, Florida, United States. Speakers: Ajay Sabherwal, Chief Financial Officer and Executive Vice President, Paul Taaffe, vice president of corporate communications and development.

Fairpoint Communications, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Year 2015

Fairpoint Communications, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, total revenue was $213,974,000 against $230,557,000 a year ago. Loss from operations was $24,668,000 against $22,114,000 a year ago. Loss from continuing operations before income taxes was $44,312,000 against $41,907,000 a year ago. Net loss was $45,213,000 against $32,237,000 a year ago. Adjusted EBITDA was $88,680,000 against $64,175,000 a year ago. Capital expenditures were $26,430,000 against $28,077,000 a year ago. Loss before income taxes was $44,312,000 against $41,907,000 a year ago. Basic and diluted loss per share was $1.70 against $1.22 a year ago. Net cash provided by operating activities was $791,000 against $18,757,000 a year ago. Net capital additions were $26,430,000 against $28,077,000 a year ago. The change in net loss from fourth quarter of 2014 was primarily due to a decrease in loss from operations of $8.0 million, mainly from lower operating expenses, excluding depreciation, amortization and reorganization, partially offset by lower revenue, as described above, as well as the settlement proceeds received in the fourth quarter of 2014 and lower income tax benefit of $2.6 million in the first quarter compared to the fourth quarter. The decrease in revenue is due primarily to a reduction in legacy voice services revenue, broadband line loss and the impact of seasonality. For full year 2015, the company continues to expect to generate $105 million to $125 million of unlevered free cash flow adjusted for estimated avoided costs in the first quarter. 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.


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