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Last $20.06 USD
Change Today -0.49 / -2.38%
Volume 66.4K
FRP On Other Exchanges
As of 8:10 PM 04/17/15 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
05/9/14 - $12.54
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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, Inc. Announces Launch of Data Center Services to Wholesale Providers

Fairpoint Communications, Inc. announced the launch of data center services applications for wholesale re-sellers and cloud providers seeking a New England presence. Satellite data centers reduce latency and improve performance of application servers by moving compute and storage resources closer to customers and off-loading the primary and secondary data centers. In addition, data centers can also be employed as part of a comprehensive disaster recovery strategy. As a network infrastructure service provider, FairPoint data center services can include high-speed Ethernet services up to 1 Gbps and Wave services up to 10 Gbps.

Fairpoint Communications, Inc. Appoints Karen A. Mead as Senior Vice President, External Relations and Community High-Speed Internet Development

Fairpoint Communications, Inc. announced it has added a senior leadership position designed to work with economic and community development leaders across northern New England. Karen A. Mead, a 30- year telecom industry veteran, will assume the newly created role of Senior Vice President, External Relations and Community High-Speed Internet Development. In this important role, Mead will serve as FairPoint's community high-speed Internet development liaison and work closely with community and economic development organizations to define and develop solutions to meet the growing infrastructure needs through creative and collaborative solutions using Ethernet and fiber-based solutions. Mead served most recently as FairPoint's Senior Vice President, Operations and Engineering for New Hampshire.

Fairpoint Communications, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Year 2015

Fairpoint Communications, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, total revenue was $217,122,000 against $233,396,000 a year ago. Loss from operations was $32,671,000 against $6,192,000 a year ago. Loss from continuing operations before income taxes was $45,349,000 against $22,987,000 a year ago. Net loss was $43,624,000 against net income of $6,103,000 a year ago. Adjusted EBITDA was $100,470,000 against $67,215,000 a year ago. Capital expenditures were $37.2 million in the fourth quarter of 2013 as compared to $49.1 million a year earlier. The decrease year-over-year was due primarily to regulatory build-out requirements in fiscal year 2012. Unlevered free cash flow was $21,145,000 against $12,375,000 a year ago. The increase in unlevered free cash flow was due primarily to lower capital expenditures and higher adjusted EBITDA offset by pension contributions in the fourth quarter of 2013. The change in revenue was due primarily to a decline in voice services and access revenues, which was partially offset by growth in data and Internet services revenue. Adjusted income from continuing operations excluding depreciation, amortization and reorganization was $67,215,000 against $62,688,000 a year ago. For the full year, revenue was $901,396,000 against $939,354,000 a year ago. Loss from operations was $93,274,000 against $113,186,000 a year ago. Loss from continuing operations before income taxes was $166,097,000 against $193,785,000 a year ago. Net loss was $136,319,000 or $5.15 per basic and diluted share against $93,450,000 or $3.57 per basic and diluted share a year ago. Adjusted EBITDA was $290,574,000 against $265,030,000 a year ago. Net cash provided by operating activities was $121,063,000 against $171,085,000 a year ago. Net capital additions were $119,489,000 against $128,298,000 a year ago. Net loss from continuing operations was $136,319,000 or basic and diluted loss per share from continuing operations of $5.15 compared to net loss from continuing operations of $93,450,000 or basic and diluted loss per share from continuing operations of $3.95 for the same period a year ago. For full year 2015, the company expects to generate $105 million to $125 million of Unlevered Free Cash Flow adjusted for Estimated Avoided Costs in the first quarter. 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. The company not providing adjusted EBITDA guidance at this time due to the uncertain impact of the strike on revenue that continued into the first quarter of 2015.


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