Last $17.23 USD
Change Today +0.32 / 1.89%
Volume 38.1K
FRP On Other Exchanges
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As of 8:10 PM 03/2/15 All times are local (Market data is delayed by at least 15 minutes).

fairpoint communications inc (FRP) Snapshot

Open
$16.93
Previous Close
$16.91
Day High
$17.39
Day Low
$16.93
52 Week High
02/20/15 - $17.74
52 Week Low
03/25/14 - $12.26
Market Cap
460.2M
Average Volume 10 Days
111.9K
EPS TTM
$-3.25
Shares Outstanding
26.7M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for FAIRPOINT COMMUNICATIONS INC (FRP)

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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 obtaining IP addresses, basic Website design and hosting, domain name services, content feeds, and Web-based e-mail services; and carrier Ethernet services to business and wholesale customers. In addition, it offers 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 provides 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, 2013, the company operated approximately 1.2 million access line equivalents 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.

3,171 Employees
Last Reported Date: 03/5/14
Founded in 1991

fairpoint communications inc (FRP) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: $787.5K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $387.5K
Executive Vice President of External Affairs ...
Total Annual Compensation: $328.0K
Chief Revenue Officer and Executive Vice Pres...
Total Annual Compensation: $325.5K
Compensation as of Fiscal Year 2013.

fairpoint communications inc (FRP) Key Developments

Fairpoint Communications, Inc. Announces Northern New England Labor Unions Ratify Collective Bargaining Agreements

FairPoint Communications, Inc. announced that February 22, 2015, the membership of the IBEW, T-9 Council and the Communications Workers of America, Local 1400 ratified the tentative collective bargaining agreements between FairPoint and the labor unions. Highlights of the collective bargaining agreements are as follows: The defined benefit pension plan will be closed to new employees. For existing employees, past accruals have been frozen and future defined benefit accruals will be at 50% of prior rates and capped after 30 years of total credited service. No change to the 401(k) plan with a dollar-for-dollar match up to 5% of eligible pay. Retiree medical for active employees will be eliminated, except for a transitional monthly stipend for eligible employees who elect to retire in the first 30 months of the contract period. To be eligible for the stipend an employee must, among other criteria, have been granted a pension under the defined benefit pension plan. The monthly stipend shall not exceed $800 per retiree, plus an additional $400 for a retiree's spouse, and shall only be for reimbursement of medical insurance premiums. The stipend will be available only until the retiree reaches age 65, or dies, among other limitations. Employees will participate in the NECA/IBEW multi-employer medical plan. For 2015, the company's contribution is approximately equal to 79% of the cost had these employees been on the company's management health plan. Further, annual increases in the company's costs are capped at 4% per year. For existing employees there will be a delayed ratification payment of $400, with general wage increases of 1% in August 2016 and 2% in August 2017. New hire wage rate increases will occur at 12-month intervals versus 6-month intervals under the expired agreements. Paid sick days will be limited to 6 per year versus unlimited paid sick days under the expired agreements. Short term disability will be limited to 6 months with a 60% of normal salary benefit versus 12 months and a 100% of normal salary benefit under the expired agreements. Prohibitions on layoffs included in the expired agreements were eliminated. Subcontracting rules were liberalized to permit subcontracting in a variety of circumstances including weather emergencies, spikes in service workloads and where management determines that due to evolving technological needs, different skills are necessary. Other operational rules such as call-outs, standby and transfers among locations were liberalized. The term of the collective bargaining agreements are from February 22, 2015 through August 4, 2018.

FairPoint Communications, Inc. Reach Tentative Agreement with Labor Unions

FairPoint Communications, Inc. announced that they have reached tentative agreements on the terms for new collective bargaining agreements. The Company and the Unions agree that the terms of their new collective bargaining agreements will address, in meaningful and constructive ways, the objectives of the parties and that the new labor agreements will provide employees with wages and benefits that are among the best in northern New England. At the same time, the agreements permit the Company to achieve a much more competitive position in the marketplace. Union members will vote on ratification of the tentative agreements as soon as possible. Effective with the signing of the tentative agreements, the parties agreed that striking employees will return to work on February 25, 2015.

FairPoint Communications, Inc. to Open New Data Center in Manchester, NH

FairPoint Communications, Inc. announced plans to open a new data center in Manchester, N.H.FairPoint opened its first data center in Laconia, N.H., in June 2014. FairPoint's data centers provide organizations with network connectivity and rack space in physically secure, reliable locations. Businesses can use these spaces as primary or secondary data center sites; and they can be a critical part of a comprehensive disaster recovery strategy. FairPoint's data centers are strictly controlled environments with essential power, cooling, connectivity and security features – including continuous video monitoring and keycard access at ingress points. FairPoint's Data Center Services offer a flexible, pay-as-you-grow leasing model, with configurations ranging from half-rack and full-rack to customized cages. FairPoint's account managers work closely with customers to develop customized plans to address their specific requirements. And, with Remote Hands service, customers can let the FairPoint Advanced Services Team handle routine maintenance and troubleshooting. The benefits of FairPoint's data center services include: onA cost-effective approach to addressing IT expansion – With the pay-as-you-grow model, customers lease only the space they need. There is no need to overbuild on-premises data center space or to take on the high capital expenditure associated with new construction or expansion. onAn essential part of an effective business continuity and disaster recovery strategy – Avoid downtime and loss of business due to IT disruption. FairPoint's data centers can withstand adverse weather conditions, and are designed with the safety, physical security, and power backup features to ensure it stays up and running. onAn effective way to help maintain IT security – An off-site, physically secure data center limits physical access and reduces opportunities for disruptions and deliberate sabotage while mitigating the high costs of building a secure and compliant on-premises data center. onBoth an alternative and a bridge to cloud migration – An ideal solution for businesses that are concerned about regulatory compliance and are not ready to put legacy and critical applications and data on multi-tenant cloud platforms. onAccess to northern New England's fiber network – FairPoint's data center customers have access to a 16,000 route-mile fiber network, and can leverage the company's Carrier Ethernet Services at speeds up to 1 Gbps.

 

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