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ATN International Inc (ATNI) operates telecommunications networks serving Alaska and Caribbean island markets, making company developments particularly relevant for investors tracking rural and remote connectivity infrastructure. The company's news flow typically centers on quarterly financial results, network expansion projects, regulatory proceedings affecting universal service fund support, and strategic initiatives in its geographically distinct service territories.
Telecommunications companies serving rural and remote markets face unique operational challenges that drive newsworthy developments: infrastructure investments to upgrade network capacity, weather-related service impacts, regulatory changes affecting subsidy programs, and competitive dynamics as new technologies like satellite internet enter traditionally isolated markets. ATN's quarterly earnings reports provide insight into subscriber trends, average revenue per user metrics, and capital expenditure levels across its North American and Caribbean operations.
This news resource tracks material events including dividend announcements, network upgrade completions, new service launches, regulatory filings, and operational updates specific to ATN's service territories. Understanding developments in Alaska telecommunications infrastructure and Caribbean island connectivity markets requires following company-specific announcements, as these regions receive less coverage than major metropolitan telecommunications markets.
Investors analyzing ATN International benefit from monitoring how regulatory changes, particularly those affecting rural broadband subsidies and universal service fund support levels, impact the company's business model. Infrastructure investment announcements signal capacity expansion and service quality improvements, while customer growth metrics indicate competitive positioning in served markets.
Alaska Communications and Nenana Native Association are partnering to bring fiber broadband service to the Athabascan community of Nenana, Alaska. The project, funded by a Tribal Broadband Connectivity Program Round 2 grant from NTIA, will connect 362 households, 30 businesses, and 9 anchor institutions.
The initiative includes workforce development through Tanana Chiefs Conference, creating at least two apprenticeship positions during the two-year project term. Apprentices will receive telecommunications training through the NCTI program. Alaska Communications commits to offering consumer services at urban-area rates and participates in the FCC's Lifeline program for low-income consumers.
The service is expected to be available in early 2027, aiming to improve healthcare, education, and economic outcomes for the community.
Old Harbor Native and Alaska Communications have announced Project Nunapet, a major broadband infrastructure initiative funded by the NTIA's Tribal Broadband Connectivity Program Round 2 grant. The project will construct a 155-mile subsea fiber optic cable network from Homer to Kodiak Island, providing Gigabit-speed internet to 570 homes across four Tribal communities: Old Harbor, Chiniak, Akhiok, and Womens Bay.
The initiative aims to bridge the digital divide in these remote Alaskan communities by delivering reliable, affordable high-speed connectivity. Alaska Communications commits to offering urban-equivalent rates and participates in the FCC's Lifeline program for low-income consumers. The network will improve access to education, healthcare, and economic opportunities while supporting network redundancy throughout the Kodiak Archipelago region.
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.
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