Latest update March 29th, 2024 12:59 AM
Mar 03, 2012 News
Atlantic Tele-Network (ATN), the parent company of the Guyana Telephone and
Telegraph (GT&T), has announced a 23 percent increase in total revenues.
According to the Full Year 2011 Results released by the company yesterday, total revenues earned were US$182.9M.
Fourth quarter revenues 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, amounted to US$21.7 million in the fourth quarter of 2011, an increase of nine percent from $19.9 million reported in the fourth quarter of 2010.
“The increase resulted primarily from data revenue and local wireline service growth in Guyana, as well as growth in fiber optic capacity revenues in New York State,” the release said.
Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for ATN in 2011 increased 24 percent to $160.2 million.
“Net cash provided by operating activities was $132.6 million, up 29 percent year-over-year. Cash dividends paid amounted to $13.7 million, a nine percent increase from 2010.
Total revenues for the fourth quarter last year were $182.9 million, a six percent decline from the $194.7 million reported for the fourth quarter of 2010, reflecting net subscriber attrition that the company experienced since the Alltel acquisition as the company transitioned distribution channels, subscriber contracts and credit policies, systems and networks.”
Commenting on full year 2011 results, Michael Prior, Chief Executive Officer, said, “This was a year of significant achievement for ATN. We completed the transition of the customer base and retail operations we acquired in the Alltel asset transaction to our own networks and operating platforms, and we considerably expanded our international wireless business. Despite the negative impact of certain transition initiatives and related overlapping expenses, we were able to report year-over-year increases in adjusted EBITDA and operating cash flow of 24 percent and 31 percent respectively. In 2012, we will focus both on improving operating efficiencies across our organization and pursuing additional opportunities to build value.”
Atlantic Tele-Network, Inc. headquartered in Beverly, Massachusetts, provides telecommunications services to rural, niche and other under-served markets and geographies in the United States, Bermuda and Guyana, in the Caribbean. Through operating subsidiaries, the company 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 and are the owner and operator of terrestrial and submarine fiber optic transport systems.
THIS IDIOT TELLING GUYANA WE HAVE NO SAY IN THE 50% PROFIT SHARING AGREEMENT WE HAVE WITH EXXON.
Mar 29, 2024
By Rawle Toney Kaieteur Sports – After a series of outstanding performances in 2023, Tianna Springer, dubbed the ‘wonder girl’, is eagerly gearing up to compete in this year’s...Kaieteur News – Good Friday in Guyana is not what it used to be. The day has lost much of its solemnity. The one day... more
By Sir Ronald Sanders Kaieteur News – In the face of escalating global environmental challenges, water scarcity and... more
Freedom of speech is our core value at Kaieteur News. If the letter/e-mail you sent was not published, and you believe that its contents were not libellous, let us know, please contact us by phone or email.
Feel free to send us your comments and/or criticisms.
Contact: 624-6456; 225-8452; 225-8458; 225-8463; 225-8465; 225-8473 or 225-8491.
Or by Email: [email protected] / [email protected]