ATNI 1Q13 revenues drop 6% y-o-y; US, international subs both increase

30 Apr 2013

Atlantic Tele-Network Inc (ATNI), which boasts numerous operations in its native US and across the Caribbean, has reported consolidated revenues of USD172.9 million for the three months ended 31 March 2013, down 6% from the USD183.1 million generated one year earlier. Adjusted EBITDA dropped 4% to USD43.3 million, while operating income declined 2% to USD17.8 million for the three months under review. Quarterly net income attributable to ATN’s stockholders was USD8.8 million, compared to USD9.3 million in the first quarter of 2012. ATNI attributes the declines to lower US wireless revenues in both the wholesale and retail sector, although these were partially offset by higher international wireless revenues and equipment sales.

In operational terms, at the end of 1Q13 ATNI claimed 589,670 US retail subscribers, up slightly from 578,585 one year earlier. Elsewhere, the company claimed approximately 335,000 international wireless subscribers, of which 88% were pre-paid. The Caribbean figure represents an annual increase of 6% from 315,000 subscribers at the end of March 2012. International wireless revenues increased 13% to USD21.4 million, with ATNI noting that the improvements were largely down to subscriber growth and strong seasonal roaming revenues. Meanwhile, wireline revenues dropped 5% to USD20.6 million y-o-y, primarily the result of lower wireline revenues in Guyana. ATNI’s international wireless division comprises: Choice Communications (based in the US Virgin Islands), Islandcom (Turks & Caicos), CellOne (Bermuda) and MIO (Aruba), while the company also owns Guyana Telephone and Telegraph Company (GT&T).