- Alaska Communications (NASDAQ:ALSK +8.7%) logged a mixed quarter with its Q3 earnings, where profits beat despite declining to $300,000 and cash from operations fell to $9.5M.
- Business and wholesale revenue climbed 8.3% to $34M, making up 60.3% of total revenue; broadband revenues in that segment grew 18.5% to $23.1M.
- In consumer, revenue fell 6% to $9.4M, making up 16.6% of total; broadband revenues there were $6.2M. Combined, total broadband revenue grew 14% to $29.4M.
- Regulatory revenues made up 23.1% of total, after falling 1.9% to $13.1M.
- The company reiterated its full-year guidance for wireline revenue of about $228M, and adjusted EBITDA of $59M (above consensus for $57M), while updating expected capex to $32M from a previous $35M, and free cash flow to a new estimate of $8M from a previous $5M.
- Yesterday, the company disclosed that it would get about $19.7M/year from the FCC for 10 years as part of CAF II funding to deploy rural broadband.
- Press Release
Alaska Communications beats on profits in Q3 as business revenues grow
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Alaska Communications Systems Group, Inc. |