Atn International, Inc. · NASDAQ:ATNI
Atn International — Atlantic Tele Network — New York Society of Security Analysts (November 2004)
19 slides from Atn International's conference presentation, Nov 5, 2004
Slide 1: Atlantic Tele-Network, Inc. – New York Society of Security Analysts
Atlantic Tele-Network, Inc. New York Society of Security Analysts
Slide 2: Notice
Notice ATN makes no express or implied representation or warranty as to the accuracy or completeness of the information contained herein. ATN expressly disclaims any and all liability that may be based on such information, errors therein or omissions therefrom. This presentation may contain forward-
Slide 3: Corporate Organization
Corporate Organization Atlantic Tele-Network, Inc. (Delaware) AMEX: ANK GT&T ATN: 80%; Gov’t 20% Main Operating Subsidiary PTT of Guyana Choice Communications Wholly owned Broadband, ISP, TV Virgin Islands Bermuda Digital 44% ATN; 56% local Cellular One Bermuda Largest Mobile Provider ATC Wholly own
Slide 4: ATN Consolidated Summary Financial Data
ATN Consolidated Summary Financial Data (USD Millions) 2001 2002 2003 Nine Months Ended September 30 2003 2004 Revenue from consolidated $ 88.1 $ 74.7 $ 83.3 $ 60.5 $ 66.0 operations1 Income from telephone $ 34.1 $ 27.4 $ 34.5 $ 24.8 $ 30.0 operations Income before income taxes and $ 26.8 $ 24.8 $ 3
Slide 5: Guyana Facts and Figures
Guyana Facts and Figures History Dutch colony until 1815; English colony until independence in 1966 Republic in English Commonwealth Geography North Coast of South America, Caribbean Rim Size of Idaho; 70% of Pop. on coastal plain Demographics/Economy Population of approx. 700,000; tele-density fixe
Slide 6: GT&T Subscribers / Lines
GT&T Subscribers / Lines 160,000 140,000 120,000 100,000 80,000 60,000 40,000 20,000 0 1991 1993 1995 1997 1999 2001 2003 3Q 04 Access Lines Mobile Subscribers
Slide 7: GT&T International MOUs
GT&T International MOUs (in millions) 40 35 30 25 20 15 10 5 0 1Q- 2Q- 3Q- 4Q- 1Q- 2Q- 3Q- 4Q- 1Q- 2Q- 3Q- 4Q- 1Q- 2Q- 3Q- 01 01 01 01 02 02 02 02 03 03 03 03 04 04 Inbound Outbound
Slide 8: Bermuda Digital Communications, Ltd.
Bermuda Digital Communications, Ltd. Cellular Telephone Services Provider in Bermuda Operates under the “Cellular One” brand Approximately 50% of market share State of the art: 1XRTT CDMA with BrewTM and EVDO Competes with Bermuda Telephone Company’s cellular subsidiary and AT&T Wireless (both GSM)
Slide 9: Other Operations & Investments
Other Operations & Investments Choice Communications LLC Largest Internet Service Provider (“ISP”) in the USVI serving nearly 9,000 subscribers, largely dial-up but with growth potential in WDSL segment Provider of 137 channels of digital television programming via wireless (MMDS frequencies). Curre
Slide 10: ATN Board of Directors
ATN Board of Directors Cornelius B. Prior, Jr. Chief Executive Officer and Chairman Former Fulbright Scholar and attorney with Sullivan & Cromwell Current trustee of Holy Cross and Harvard Law School, Chairman of CANTO (The Caribbean Association of National Telecommunication Organizations) Ernst A.
Slide 11: ATN Management
ATN Management Cornelius B. Prior, Jr. Chief Executive Officer and Chairman of the Board (since 1987, including predecessor company). Michael T. Prior Chief Financial Officer & Treasurer (June 2003). Formerly partner of Q Advisors LLC, SVP Corp. Dev. LighTrade, Inc., Director ComSpace LLC and Corpor
Slide 12: ATN Comparative Stock and Financial Data
ATN Comparative Stock and Financial Data
Slide 13: Stock Price Performance
Stock Price Performance As of September 30, 2004 1-year Performance ATN (ANK) 41% Russell 2000 17% S&P 500 12% Amex 31% Telecom 3-year Performance 149% 42% 7% -13% Source: Yahoo Finance
Slide 14: Valuation Ratios
Valuation Ratios Trailing twelve months P/E Ratio ATN 10.87 Telecom Industry 27.16 S&P 500 22.57 Price to Sales1 1.63 2.32 3.19 Price to Book2 1.47 2.52 4.04 1ATN “sales” is comprised of revenue from telephone operations plus revenue from other operations 2Represents most recently reported quarter (
Slide 15: Dividend Ratios
Dividend Ratios Trailing twelve months Dividend Yield ATN 3.56 Telecom Industry 3.9 S&P 500 2.08 Payout Ratio * 38.73 37.74 27.38 *Most recent quarter Source for Telecom and S&P comparative data—Multex Investor
Slide 16: Profitability Ratios
Profitability Ratios Trailing twelve months, as % of revenues Operating Margin1 ATN 37.38 Telecom 13.92 Industry S&P 500 21.59 Net Profit Margin2 14.99 8.57 13.92 1ATN “sales” is comprised of revenue from telephone operations plus revenue from other operations; ATN operating income is comprised of i
Slide 17: Mgmt Effectiveness Ratios
Mgmt Effectiveness Ratios Trailing twelve months, in % Return On Assets ATN 8.03 Telecom Industry 3.95 S&P 500 7.1 Return on Investment 12.14 3.74 10.90 Return on Equity 12.65 12.15 19.54 Represents twelve months beginning on July 1, 2003 through June 30, 2004 for ATN Source for Telecom and S&P comp
Slide 18: Financial Strength Ratios
Financial Strength Ratios Most recent quarter Total Debt to Equity ATN 0.06 Telecom Industry 0.79 S&P 500 0.65 Current Ratio 2.59 1.33 1.8 Represents most recently reported quarter (June 30, 2004 for ATN) Source for Telecom and S&P comparative data—Multex Investor
Slide 19: Investment Considerations
Investment Considerations Undervalued by almost any measure Price/Earnings (11.17x); low price to cash flow ratio Strong balance sheet: Cash on hand $40.8 million at June 30, 2004 Debt of $6.0 million at June 30, 2004 High dividend yield with excellent payout record Long track record of consistent r
Atlantic Tele Network — New York Society of Security Analysts (November 2004) on 6ix