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Last $15.82 USD
Change Today -0.05 / -0.32%
Volume 11.0K
FRP On Other Exchanges
As of 11:31 AM 09/2/15 All times are local (Market data is delayed by at least 15 minutes).

fairpoint communications inc (FRP) Snapshot

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52 Week High
04/17/15 - $20.98
52 Week Low
12/16/14 - $13.30
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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 Reaches Settlement with the Vermont Department of Public Service

FairPoint Communications Inc. announced that it has reached a settlement agreement with the Vermont Department of Public Service that would resolve the state's service quality investigation of FairPoint pending since December 2014. This agreement, set out in a filed Memorandum of Understanding, requires approval by the Vermont Public Service Board. The settlement calls for FairPoint to pay a significant number of retroactive customer bill credits for out-of-service repair delays and to provide better guidance to telephone customers who are eligible for such credits in the future. Also, it supports a new proceeding in front of the Public Service Board to review the scope of regulatory obligations applicable to FairPoint in light of significant changes in the competitive telecommunications landscape in the past several years. The settlement is also based upon FairPoint's commitment to utilise USD 8.8 million of annual funding from the federal Connect America Fund (CAF) Phase II price cap carrier programme.

FairPoint Communications Lays Off 229 Employees

FairPoint Communications announced that the company laid off 229 employees effective July 29, bringing its total employment down to 2,931 from 3,160 one year ago. It had planned to lay off 260 employees total, with 79 of those positions in Maine.

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

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.


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