Business
ATN Reports First Quarter 2020 Results
International Telecom and US Telecom Segments Contributed to Strong Operating Income and EBITDA GrowthCompany Continues to Operate in all Markets as an
About this update from Atn International, Inc.
[{"type":"text","content":"International Telecom and US Telecom Segments Contributed to Strong Operating Income and EBITDA GrowthCompany Continues to Operate in all Markets as an “Essential Service” Under U.S. and International Government Directives, Observing Pandemic Protocols to Protect Employees and CommunitiesStrong Balance Sheet Provides Significant Financial Flexibility BEVERLY, Mass., April 29, 2020 (GLOBE NEWSWIRE) -- ATN International, Inc. (Nasdaq: ATNI) today reported results for the first quarter ended March 31, 2020.\n Business Review and Outlook “First quarter results represented a marked improvement over the comparable period last year. The recovery of our US Telecom business, combined with the continued positive performance of our International Telecom operations, resulted in significant consolidated operating income growth and EBITDA growth of 31% on a 7% revenue increase,” said Michael Prior, ATN’s Chief Executive Officer. “In International Telecom, we continued to see strong demand for our broadband services across our markets paired with successful initiatives to drive operating efficiencies. In US Telecom, our results reflected the fixed nature of our carrier and federal support contracts entered into over the last year, which provide more consistent and predictable revenues. First quarter results included a modest impact from the novel coronavirus pandemic, as mobile revenues declined in some of our international markets due to travel bans and stay at home guidelines and orders implemented in the quarter. “As a communications services provider, we are designated as an “Essential Service” under U.S. and international government directives and have been operational throughout this crisis. We have adopted protocols across the organization to prioritize the safety and well-being of our personnel and the communities in which we operate including requiring that the majority of our employees work remotely and reducing certain sales and installation activities. Additionally, we are prioritizing service continuity to those whose financial situations have been affected by the pandemic by lowered prices, increased speeds or capacity at no charge, extended payment terms and waived late fees for individuals, students and small business customers. “Given the uncertainty surrounding the depth and duration of the global economic impact of the coron...