Aug. 21, 2015, 10:10 AM
- Telecom Spark New Zealand (OTCPK:NZTCY) is up 12.2% after raising its annual dividend to $0.22, as well as a special dividend of $0.03, as underlying earnings rose amid a reconfiguration to focus on data/mobile service.
- Net profit for the 12 months ended June 30 fell to $375M from $460M, a year-ago result affected by one-time gains from selling its AAPT unit. On an adjusted basis, earnings were up 19%.
- EBITDA for the year rose 2.8% to $962M, though revenue fell 2.9% to $3.53B.
- Mobile connections were up by 172K. "We have closed the connection number gap on our largest competitor, Vodafone, to just over 150,000, having been around 600,000 behind them just three years ago," said CEO Simon Moutter.
- The company's guided to EBITDA increases of 0%-3% for fiscal 2016.
- Related: Spark New Zealand's (OTCPK:NZTCY) CEO Simon Moutter on FY 2015 Results - Earnings Call Transcript (Aug. 21 2015)
Feb. 21, 2014, 9:47 AM
- Seagate (STX +3.3%) has been upgraded to Outperform by RBC.
- ON Semi (ONNN +1%) and Freescale (FSL +1.5%) have been started at Buy by Drexel Hamilton.
- Montage Technology (MONT +0.3%) has been cut to Market Perfrorm by Raymond James, and to Equalweight by Barclays, a day after posting a Q4 beat.
- Telecom New Zealand (NZTCY -0.5%) has been upgraded to Neutral by Citi.