ATN International, Inc - ATNI STOCK NEWS

Alaska Communications is expanding its network to provide high-speed internet across Alaska, offering speeds up to 300Mbps in Juneau and Soldotna. The company is implementing fiber-fed fixed wireless technology and building a future-proof fiber network. Since 2017, they've connected nearly 30,000 unserved locations through the CAF II program. The company is also partnering in the Alaska FiberOptic Project to connect 15 villages with Gigabit speeds, with construction already begun in several communities along the Dalton/Elliot Highway. Services start at $84.99/month with professional installation.

Alaska Communications has secured long-term funding through the newly established Alaska Connect Fund (ACF), as per a Nov. 4 order from the Federal Communications Commission (FCC). The ACF will provide increased federal Universal Service Fund support from January 1, 2025, to December 31, 2028, to facilitate the deployment and operation of broadband across Alaska. From January 1, 2029, to the end of 2034, the ACF will continue to support the operation and maintenance of broadband and voice networks. The funding amount and eligible locations for the second phase will be determined by the FCC, considering the Broadband Equity Access and Deployment (BEAD) Program, which has allocated over $1 billion to Alaska. Alaska Communications has already deployed high-speed internet to nearly 30,000 locations, including Coffman Cove, Delta Junction, Homer, Hope, Hoonah, Kake, Kasilof, Kenai, Klawock, Larsen Bay, Ninilchik, North Kenai, North Pole, Seldovia, Soldotna, and Sterling.

ATN International reported Q3 2024 results with consolidated revenues of $178.5 million, down 7% year-over-year. The company recorded a net loss of $32.7 million, or $2.26 per share, largely due to a $35.3 million non-cash goodwill impairment charge. Adjusted EBITDA decreased 5% to $45.7 million. The International Telecom segment showed stable performance, while US Telecom segment revenues declined 13%. The company updated its 2024 outlook, lowering revenue guidance to $720-730 million and Adjusted EBITDA to $182-188 million. High-speed broadband subscribers increased 6% year-over-year, with broadband homes passed expanding 20%.

ATN International, Inc. (Nasdaq: ATNI), a leading provider of digital infrastructure and communications services, has announced its plans to release third quarter 2024 financial results on Tuesday, October 29, 2024, after market close. The company will host a conference call to discuss these results on Wednesday, October 30, 2024, at 10:00 a.m. ET.

Interested parties can access the live audio webcast of the conference call through the provided webcast link or the 'Events & Presentations' section of ATN's Investor Relations website. A replay of the call will be available at the same locations starting at approximately 1:00 pm ET on the same day. Additionally, ATN will provide an investor presentation as a supplement to the call on its Investor Relations website.

To participate in the live call, registration is required through the provided 'Live Call Participant Link'. Upon registration, participants will receive dial-in numbers and a unique PIN for call access.

ATN International, Inc. (Nasdaq: ATNI) has announced a quarterly dividend declaration by its Board of Directors. The dividend is set at $0.24 per share and will be payable on October 4, 2024. This dividend will be distributed to all stockholders of record as of September 30, 2024. The announcement reflects the company's commitment to providing regular returns to its shareholders.

Hexa Capital Consultancy PLT has appointed Alaska Communications as the U.S. Landing Party for the Malaysia-US (MYUS) cable. The MYUS cable, set to be operational by mid-2028, will provide the first direct high-capacity fiberoptic connection between Malaysia and the U.S. It will connect Malaysia, Indonesia, the Philippines, Guam, and Oregon, offering a reliable route that avoids contested waters in Southeast Asia.

The cable will land at Alaska Communications' station in Florence, Oregon, chosen for its strategic location and access to multiple fiber backhaul providers. MYUS will feature 16 fiber pairs along its backbone, with Hexa's business model focusing on selling fiber pairs to long-term owners demanding high performance and reliability.

Alaska Communications has appointed Dale Knipp as senior vice president, business to drive growth and become the provider of choice in Alaska. Knipp, an experienced telecom leader, will oversee all business sales teams, including enterprise, wholesale, carrier, federal, managed IT services, and SMB. With an extensive background in business development and sales leadership, Knipp has worked with major telecoms like Comcast, Verizon, Cox, Dish, and Charter. At Comcast, he led a team that generated over $1.5 billion in total contract revenue. Knipp holds degrees from the University of Kansas and University of Phoenix, as well as an executive management certification from Carnegie Mellon University. He joins Alaska Communications on September 9, 2024.

Alaska Communications has secured a new $390 million senior secured credit facility to enhance and expand its statewide fiber infrastructure. The five-year financing will be used to repay existing debt and invest in expanding the company's fiber network, which currently spans 9,100 miles across Alaska. CEO Matt McConnell emphasized the significance of this financing in contributing to a stronger state economy and meeting growing connectivity demands. The company aims to enhance fiber-based connectivity and increase fiber capacity throughout Alaska. Rothschild & Co served as the financial advisor, while Bank of America and Fifth Third Bank acted as Joint Bookrunners and Joint Lead Arrangers for the deal.

ATN International (ATNI) reported Q2 2024 results and reiterated its full-year 2024 outlook. Key highlights:

• Consolidated revenues decreased 2% to $183.3 million
• Net income increased to $9.0 million, or $0.50 per diluted share
• Adjusted EBITDA increased 6% to $48.7 million
• Total high-speed broadband subscribers increased by 9%
• Broadband homes passed by high-speed data services expanded by 22%

The company reaffirmed its 2024 outlook, expecting revenue of $730-750 million and Adjusted EBITDA of $190-200 million. ATN is focusing on leveraging its network investments to drive growth in high-speed data subscribers and network reach while improving operating efficiency.