ATN International, Inc (ATNI) has reported a 12.08 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $6.86 million, or $0.42 a share in the quarter, compared with $6.12 million, or $0.38 a share for the same period last year. Revenue during the quarter surged 42.85 percent to $128.12 million from $89.69 million in the previous year period. Total expenses were 86.11 percent of quarterly revenues, up from 82.28 percent for the same period last year. That has resulted in a contraction of 383 basis points in operating margin to 13.89 percent.
Operating income for the quarter was $17.79 million, compared with $15.89 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $42.08 million compared with $34.10 million in the prior year period. At the same time, adjusted EBITDA margin contracted 518 basis points in the quarter to 32.84 percent from 38.02 percent in the last year period.
“In the 2017 first quarter, we saw a continuation of the trends discussed at the end of 2016 with strong year over year revenue growth overall along with growing income,” said Michael Prior, chief executive officer. “Profitability improved considerably from 2016 fourth quarter levels, with much of the integration and related administrative expenses associated with our recent transactions behind us. Revenues for each segment were consistent with our expectations of a relatively stable telecom subscriber base and growth in international telecom offset in part by lower revenue from U.S. wholesale telecom and domestic solar operations.
Operating cash flow improves
ATN International, Inc has generated cash of $32.09 million from operating activities during the quarter, up 13.27 percent or $3.76 million, when compared with the last year period. The company has spent $20.85 million cash to meet investing activities during the quarter as against cash outgo of $17.79 million in the last year period.
The company has spent $15.63 million cash to carry out financing activities during the quarter as against cash outgo of $11.48 million in the last year period.
Cash and cash equivalents stood at $265.54 million as on Mar. 31, 2017, down 32.11 percent or $125.56 million from $391.10 million on Mar. 31, 2016.
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