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Alaska Communications (NASDAQ: ALSK) has launched AKXinternet, a new mesh fixed wireless solution providing 1 Gbps download and up to 100 Mbps upload speeds. The service features unlimited data and tiered speed options, starting at 100 Mbps. Initially available in select neighborhoods of Anchorage, it aims to expand to Fairbanks, Juneau, and the Kenai Peninsula through 2024. Alaska Communications is recognized for its innovative deployment of this technology, highlighted by receiving Cambium Networks' Wireless Connectivity Hero Award. The company plans to reach 6,500 new addresses this year.
On July 15, 2021, Cambium Networks (CMBM) announced that Alaska Communications is deploying its 60 GHz cnWave fixed wireless technology. This rollout will provide multi-gigabit service, reaching 6,500 homes and businesses with speeds up to 1 Gbps. Alaska Communications enhances its broadband offerings and introduces new speed tiers starting at 100 Mbps. The deployment is critical for expanding broadband access, especially for remote users. This initiative has garnered Cambium Networks' Wireless Connectivity Hero Award, recognizing Alaska Communications' leadership in wireless technology.
Alaska Communications (NASDAQ: ALSK) has entered a Distribution Partner Agreement with OneWeb to enhance connectivity solutions in Alaska. This collaboration will allow Alaska Communications to offer OneWeb's low Earth orbit satellite services, critical for high-speed, low-latency connections, especially in rural areas. The services are set to be available in Q4 2021, addressing the connectivity needs of businesses, governments, and healthcare providers. Alaska Communications has over 100 years of experience in delivering communications across the state, enhancing its service offering through this partnership.
Alaska Communications (NASDAQ: ALSK) joins the Emergency Broadband Benefit Program, providing financial relief to Alaskan households impacted by COVID-19. Eligible households can receive up to $75 monthly off their broadband service, aiding those facing economic hardship. Applications begin on May 12, 2021. The initiative highlights the critical role of broadband in education, work, and healthcare during the pandemic. As a participating provider, Alaska Communications will be reimbursed for qualifying services, ensuring that access to essential internet services is improved for underserved communities.
Alaska Communications Systems Group (NASDAQ: ALSK) reported Q1 2021 financial results, showing a 4.1% increase in total revenue to $60.7 million compared to Q1 2020. Growth in business and wholesale revenues drove this increase, reaching $41.0 million (up 5.6%). However, net income decreased to $0.6 million from $2.4 million due to transaction costs. The company is progressing with its merger with ATN International and expects to finalize regulatory approvals soon. Cash stands at $23.4 million, representing an improvement from previous quarters.
Beginning April 24, 2021, Alaska Communications (NASDAQ: ALSK) will initiate a six-month transition period for implementation of 10-digit dialing, including local calls. This change supports the FCC's requirement for the 988 abbreviated dialing for the National Suicide Prevention Lifeline, aimed at enhancing access to crisis resources, especially in regions with high suicide rates. To support mental health resources, Alaska Communications will also donate to the American Foundation for Suicide Prevention, Alaska Chapter. The nationwide launch of 988 will occur on July 16, 2022.
Alaska Communications Systems Group (NASDAQ: ALSK) reported 2020 financial results highlighting a 7% rise in Q4 revenue to $62.3 million, despite operational challenges. Business and wholesale revenue increased by 12.7% to $43.2 million, while consumer and regulatory revenues fell. The company incurred a net loss of $8.2 million in Q4 and $1.1 million for the full year. Successful expansions included broadband access to over 3,700 new locations. A merger with ATN International was approved, promising further growth and infrastructural synergies.
Alaska Communications (NASDAQ: ALSK) announced that its stockholders have approved the merger agreement with ATN International, Inc. (NASDAQ: ATNI) and Freedom 3 Capital, LLC. This merger will result in Alaska Communications becoming a majority-owned subsidiary of ATN. The transaction is subject to regulatory approvals and is expected to close in Q3 2021. The final voting results will be reported to the SEC. Alaska Communications is a leading provider of broadband and IT services in Alaska, while ATN focuses on investments in communications and technology businesses.
Alaska Communications (NASDAQ: ALSK) is launching its fastest internet service, Xtreme Internet, offering speeds up to 1 Gig in select residential areas starting this spring. This initiative aims to enhance the broadband experience for Alaskans by utilizing 60 GHz mesh fixed wireless technology based on Facebook Connectivity's Terragraph. The upgrade will improve the network for 42,000 customers this year, expanding service options in urban locations.
Alaska Communications (NASDAQ: ALSK) has expanded broadband service to over 3,700 locations in underserved areas of Alaska in 2020, funded partly by the FCC's Connect America Fund Phase II program. The company launched or enhanced high-speed internet in several locations, offering speeds up to 50 Mbps download. This project marks the largest affordable broadband deployment in Alaska under a single program. CEO Bill Bishop emphasized the importance of accessible broadband for work, education, and healthcare during the pandemic, showcasing the company's commitment to improving connectivity.
