Atlantic Tele-Network Inc. (ATN), GT&T’s parent company has recorded total revenues for the second quarter of US$193.8 M, 18 percent more than the US$164.7 million it recorded for the same period last year. The company’s increase in revenue has come despite the decline in long distance revenue from Guyana.
The increase in revenue as of June 30, a release said, resulted primarily from the inclusion of a full quarter’s operations of the former Alltel wireless assets that the Company acquired on April 26, 2010. Total wireless service revenues represented $166.0 million, or 86% of total revenue. U.S. Wireless service revenues were $147.3 million, or 76% of total revenues, for the quarter.
Wireline revenues are generated by the Company’s wireline operations in Guyana, including international telephone calls in and out of that country, its integrated voice and data operations in New England and its wholesale transport operations in New York State.
Total revenues from wireline amounted to $20.9 million in the second quarter of 2011, a decrease of $2.3 million from $23.2 million reported in the second quarter of 2010. This decrease resulted from a decline in long distance revenue in Guyana, which was partially offset by data revenue growth in Guyana and growth in capacity sales in New York State, the release said.
According to the release, total operating income was $6.3 million compared to $7.8 million in last year’s second quarter and $10.4 million in the 2011 first quarter. Second quarter 2011 operating income included a $6.8 million increase in depreciation and amortization expenses over the previous year’s second quarter and $0.3 million in acquisition-related charges.
Last year’s second quarter operating income included $11.0 million in acquisition-related charges due to the completion of the acquisition of Alltel wireless assets. Net income attributable to ATN’s stockholders was $1.8 million, or $0.12 per diluted share, as compared to $24.8 million, or $1.60 per diluted share, in the second quarter of 2010 and $4.5 million, or $0.29 per share in the 2011 first quarter. Second quarter 2010 net income, the release said, included a bargain purchase gain, net of taxes, of $27.0 million related to the Company’s acquisition of former Alltel Wireless assets.
Atlantic Tele-Network, Inc. is headquartered in Beverly, Massachusetts and provides telecommunications services to rural, niche and other under-served markets and geographies in the United States, Bermuda and the Caribbean.
The company through its operating subsidiaries provides both wireless and wireline connectivity to residential and business customers, including a range of mobile wireless solutions, local exchange services and broadband internet services. The company owns and operates terrestrial and submarine fiber optic transport systems.
