Business
ATN Reports First Quarter 2022 Results and Reiterates Financial Outlook
First Quarter 2022 Results Revenues increased to $172.0 million from $124.5 million a year ago, primarily due to the successful acquisition of Alaska
About this update from Atn International, Inc.
[{"type":"text","content":"First Quarter 2022 Results Revenues increased to $172.0 million from $124.5 million a year ago, primarily due to the successful acquisition of Alaska Communications.Net loss was $0.9 million versus net income of $2.7 million a year ago.EBITDA1 increased to $36.7 million from $23.9 million a year ago.Adjusted EBITDA2 increased to $40.6 million from $24.7 million a year ago.Capital expenditures were $34.5 million.Total cash, cash equivalents and restricted cash was $76.8 million as of March 31, 2022. BEVERLY, Mass., April 27, 2022 (GLOBE NEWSWIRE) -- ATN International, Inc. (“ATN” or the “Company”) (Nasdaq: ATNI), a leading provider of digital infrastructure and communications services, today reported results for the first quarter ended March 31, 2022. “We started off 2022 on the right foot, expanding our subscriber counts and reach in multiple markets,” commented Michael Prior, Chief Executive Officer of ATN. “With a persistent focus on being first to fiber, we are rapidly deploying fiber optic facilities and other high-speed solutions in the communities we serve. More communities, homes, businesses, schools, and even other carriers now have access to world-class connectivity as a result. Customers up and down the value chain are very appreciative of these in-roads, and we continue to build relationships for the long term. “Staying true to our roots, we brought digital connectivity to more remote areas in the quarter. This included connecting ten Navajo Nation Consortium schools and bringing fiber to five new communities in Guyana, greatly improving broadband capacity for residents, businesses and schools in these coastal and inland mining towns. We currently have more than half a million homes passed by our broadband networks, up 92% from a year ago, and we are now capable of delivering higher-speed data services to 38% of our residential subscribers. We expect to continue to increase the number of homes, schools and businesses passed by our high-speed services as well as the number of customers subscribed to those services throughout the year which should be reflected in our financial results through revenue growth and margin improvement. “Looking ahead, as we advance our network builds, strategic initiatives and augmented sales and marketing capabilities, we remain confident in our 2022 and three-year forecasts. We continue to...