Business
ATN Reports Second-Quarter 2023 Results; Reiterates Outlook
“First-to-Fiber” and “Glass & SteelTM” Strategies Drive Year Over Year Growth Grew revenue 4% to $186.4 millionIncreased total high-speed subscribers by
About this update from Atn International, Inc.
[{"type":"text","content":"“First-to-Fiber” and “Glass & SteelTM” Strategies Drive Year Over Year Growth Grew revenue 4% to $186.4 millionIncreased total high-speed subscribers by 22%Expanded broadband homes passed by high-speed data services by 66%Capital expenditures were $38.9 million (net of $4.9 million of reimbursements) Operating Income and Adjusted EBITDA Improvements Follow Subscriber and Revenue Growth Increased net income to $0.8 million, or a $(0.03) loss per share; operating income increased to $2.4 millionIncreased Adjusted EBITDA1 by 10% to $45.8 million Reiterates 2023 Outlook3 Adjusted EBITDA expected to be in the range of $183 million to $193 millionCapital expenditures expected to be in the range of $160 million to $170 million Earnings Conference Call Thursday, July 27, 2023, at 10:00 a.m. ET; web participant link: https://edge.media-server.com/mmc/p/hweveeqj BEVERLY, Mass., July 26, 2023 (GLOBE NEWSWIRE) -- ATN International, Inc. (“ATN” or the “Company”) (Nasdaq: ATNI), a leading provider of digital infrastructure and communications services, today reported financial results for the three and six months ended June 30, 2023. Remarks by Michael Prior, ATN CEO “The growth in revenues and our customer base contributed to margin improvement and Adjusted EBITDA expansion, tracking to our three-year plan. Over the past year, we have increased the number of homes passed by fiber and other high-speed networks by 66%. This has led to 22% growth in our high-speed data subscribers as we have upgraded legacy broadband users and brought on new subscribers. This early success improves the durability of our revenue further validating our Glass & SteelTM and First-to-Fiber strategies. Also, we were pleased with the 14% growth in international mobile subscribers. “As expected, we closed a major, long-term contract with a national mobile carrier during the quarter to provide network, infrastructure, and technical services. This long-term contract leverages our operating capabilities and a mobile network covering more than 50,000 square miles of the western United States. “Our long-term track record of strong operational and financial performance provided the foundation to refinance our main credit facility on attractive terms despite the current market environment. The new facilities have five- and six-year maturities, adding to our financial strength ...