ATN International, Inc - ATNI STOCK NEWS

Alaska Communications has announced the appointment of Paul Fenaroli as its new Chief Executive Officer and board member, effective January 6, 2025. The appointment follows the departure of former CEO Matthew McConnell. According to Chairman Brad Martin, Fenaroli brings extensive experience in corporate strategy and operational leadership, with a focus on driving growth while maintaining strong customer relationships.

The new CEO expressed his commitment to leading the company's mission of providing critical infrastructure and services connecting Alaskans. Fenaroli emphasized his focus on driving innovation, operational excellence, and growth while strengthening relationships with customers and communities across Alaska.

ATN International (Nasdaq: ATNI) has announced a quarterly dividend declaration. The company's Board of Directors has approved a dividend of $0.24 per share. The dividend will be payable on January 8, 2025, to stockholders of record as of December 31, 2024.

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.