Log In

Reset Password

One Communications owner reports $2.8m quarterly loss

Michael Prior, chief executive officer of ATN (File photograph)

ATN International Inc, the Massachusetts-based parent company of One Communications and Fireminds, has reported a net loss of $2.8 million for the third quarter of the year.

That compares with a $2.6 million net loss for the same quarter in 2021.

The provider of digital infrastructure and communications services said third quarter consolidated revenues increased by nine per cent year over year to $182.2 million from $166.8 million.

The company reported operating income of $1.4 million and adjusted Ebitda of $41.9 million, improving from an operating loss of $1 million and adjusted Ebitda of $36.8 million in the same period a year ago.

These increases were due to the improved operating performance of Alaska Communications as well as the inclusion of a full quarter, or 13 weeks, of Alaska Communications’ results versus the addition of ten weeks of Alaska Communications results in the same period a year ago, the company said.

Capital expenditures were $38.9 million.

Total cash, cash equivalents and restricted cash was $77.8 million as of September 30 and total debt was $355.7 million. That compares with $80.7 million of cash, cash equivalents and restricted cash and $331.8 million of total debt as of December 31.

The company recorded financial results in three categories: international telecom, US telecom, and all other.

ATN’s international telecom segment, of which One Communications and Fireminds are a part, recorded revenues of $90 million for the quarter, up six per cent year over year.

This increase was the result of mobile and broadband subscriber growth in the segment.

The growth in fixed revenues was partially offset by a scheduled step down in federal high-cost support subsidies for the US Virgin Islands, the company said.

Operating expenses for the quarter increased incrementally year over year as the company invested in growing its market share in mobile as well as expanding and enhancing its networks and sales and marketing capabilities.

Operating income was $13.4 million and adjusted Ebitda was $27.9 million in the quarter, compared with operating income of $13.2 million and adjusted Ebitda of $26.9 million in the prior year period.

The year over year increases in operating income and adjusted Ebitda were mainly due to the same factors that drove higher segment revenue, partially offset by higher operating expenditures in the third quarter.

“We executed well on our strategic growth priorities and achieved a solid financial performance in the third quarter,” said Michael Prior, chief executive officer of ATN.

“Consistent with our “first-to-fibre” and “glass and steel” strategies, we remained focused on being first to build and own modern, core digital infrastructure in the markets we serve.

“As a result, we continued to make steady progress across our key operational metrics, including the numbers of customers connected to and premises passed by our high-speed networks, which were up 13 per cent and 15 per cent, respectively, since the beginning of the year.

“Additionally, in the quarter we grew our international mobility subscriber base and mobility revenues by 9 per cent and 11 per cent, respectively, year over year. These efforts continue to demonstrate our leadership across our operating areas and lay the foundation for our ongoing expansion in growing markets.”

You must be Registered or to post comment or to vote.

Published October 28, 2022 at 7:41 am (Updated October 28, 2022 at 7:40 am)

One Communications owner reports $2.8m quarterly loss

What you
Need to
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon