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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Primus Telecommunications Nearly Doubles Net Income And Declares Special Dividend 2 comments
    Aug 9, 2013 11:05 AM | about stocks: PTGI

    Originally published at www.seclive.com

    Filing in Focus: Primus Telecommunications 10-Q, August 8, 2013

    Primus Telecommunications Group International (NYSE:PTGI) announced its financial results for the second quarter of fiscal 2013, reporting net income of $137.4M, up nearly double from this quarter last year of $69.9M. Earnings per share nearly doubled as well, from $4.97 to $9.83 per share. During this quarter, Primus completed the sale of BLACKIRON and North America Telecom, netting the company $135.0M and $126.0M respectively. Additionally, the company's board of directors has approved a special dividend in the amount of $8.50 per share, payable to shareholders of record as of August 20, 2013. Neil Subin, the board's chairman, remarked that the company is pleased to return value to its shareholders by declaring the special dividend.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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  • Faxbot
    , contributor
    Comments (424) | Send Message
     
    Hi, I own shares of this company and I am having some trouble coming to terms with the special dividend. What are your thoughts on this company's future and strategy?
    12 Aug 2013, 02:26 PM Reply Like
  • adspatz
    , contributor
    Comments (2) | Send Message
     
    Author’s reply » Faxbot,
    That's a great question, however I do not at all claim to be an expert financial analyst. If you click on the link located at Filing in Focus, it will take you to the SEC filing. A good place to start reading would be at the Management's Discussion and Analysis of Financial Condition. After you click the link above, to quickly get there click on Part I, and then on Item 2. That will be a good starting point for your research. Thanks again for the question and I wish you the best of luck.
    12 Aug 2013, 10:50 PM Reply Like
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