Alaska Comm. -14.9% AH on wireless sub drop, mixed guidance

Alaska Communications (ALSK) expects 2014 revenue of $310M, above a $289.4M consensus. But free cash flow is expected to fall to $20M from a 2013 level of $22M. Capex is expected to drop to $40M from $47.7M.

Adjusted EBITDA, pressured by the loss of $15.7M in revenue tied to the Alaska Wireless Network deal, fell 50% Y/Y to $16.6M. Consumer service revenue +2% to $10.1M, business/wholesale services -1% to $25.6M.

Consumer access lines fell by 1.4K Q/Q to 49.3K, and business access lines by 200 to 79.8K. Consumer broadband connections rose by 600 to 38.7K, and business broadband connections by less than 100 to 19.3K.

3.2K wireless subs were lost in Q4; the company now has 108.8K. Wireless service revenue (hurt by Verizon's arrival in Alaska) fell 6% Y/Y to $17.6M. ARPU rose to $53.14 from $52.08 in Q3 and $52.96 a year ago. Churn was 3.4% vs. 3.2% in Q3 and 3.7% a year ago.

Q4 results, PR

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