Business
ATN Reports Third Quarter 2021 Results
Alaska Communications Acquisition Drives 49% Year-on-Year Consolidated Revenue Growth International Telecom Continues to Generate Subscriber and Revenue
About this update from Atn International, Inc.
[{"type":"text","content":"Alaska Communications Acquisition Drives 49% Year-on-Year Consolidated Revenue Growth International Telecom Continues to Generate Subscriber and Revenue Growth Alaska Communications Performed in Line with Expectations Expanding Domestic Network Reach to Grow High Speed Data Revenue and Customers BEVERLY, Mass., Oct. 27, 2021 (GLOBE NEWSWIRE) -- ATN International, Inc. (Nasdaq: ATNI) today reported results for the third quarter and nine months ended September 30, 2021. Business Review and Outlook Michael Prior, Chief Executive Officer, commented, “The Alaska Communications acquisition has significantly increased the scale of ATN’s domestic operations and has opened additional opportunities for us to pursue growth initiatives that also provide significant social and economic benefits by bringing high speed connectivity to the communities we serve. “The addition of approximately ten weeks of Alaska Communications operations was the major driver of a nearly three-fold increase in our US Telecom segment revenues, with fiber-based services to enterprise, government, wholesale and residential customers representing the majority of that growth. Higher FirstNet construction revenues also contributed to the increase. Additionally, we experienced growth in our legacy domestic business in the western U.S. due to higher consumer broadband revenues following our late 2020 build out of rural broadband networks under various government programs and public-private initiatives. ATN now owns and operates approximately 6,000 fiber route miles in the U.S., and with more federal government funding becoming available to help connect rural communities to true high speed data access, we have allocated additional resources to capture opportunities to build-out rural middle mile fiber networks and fiber and fixed wireless connections. This is a priority for the strategic transformation of our legacy domestic wholesale roaming business into a broader fiber-based communications platform, and it is in keeping with our corporate mission of bringing reliable and affordable access to the modern communications infrastructure to historically underbuilt areas. “International Telecom revenue increased in the third quarter, reflecting the positive performance of several of our key international markets, where upgrades and expansions of our networks and effective mar...