Atlantic Tele-Network Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, revenue was $65.9 million 18% above the $55.9 million reported for the third quarter of 2008 and a 9% sequential increase over the second quarter of 2009's revenue of $60.3 million. Driving these revenue increases were 41% year-over-year and 18% sequential increases in the company's wireless revenue fueled by significant growth in the company's existing U.S. wireless business. The growth in wireless revenue more than offset the year-over-year and sequential decreases in international long distance revenue from the company's Guyana operations. Despite incurring approximately $2.0 million in acquisition-related expenses associated with the company's pending acquisition of Alltel properties, operating income increased 13% over the third quarter of 2008 to $23.1 million from $20.4 million. Net income attributable to ATN's stockholders was $11.9 million for the quarter compared to $10.1 million for the same period in 2008. On a per share basis, net income attributable to ATN's stockholders increased 18% to $0.78 per diluted share from $0.66 per diluted share for last year's third quarter. Basic earnings per share were $0.78 against $0.67 last year. Income before income taxes was $22.3 million against $20.0 million last year. Income before equity in earnings of unconsolidated affiliates was $12.4 million against $11.4 million last year. For the nine months, revenue was $182.2 million against $152 million reported last year. Operating income increased $3.9 million, or 7%, to $58.0 million for the nine months ended September 30, 2009 from $54.1 million for the same period in 2008, in part due to the inclusion of $4.7 million of operating losses at two early stage businesses acquired during the third quarter of 2008, for which results were not included in the first half of 2008. Net income attributable to ATN's stockholders was $30.4 million against $28.2 million last year. Diluted earnings per share were $1.98 against $1.85 last year. Basic earnings per share were $1.99 against $1.85 last year. Income before income taxes was $55.6 million against $53.7 million last year. Income before equity in earnings of unconsolidated affiliates was $31.3 million against $31.1 million last year. Net cash provided by operating activities was $70,801,000 against $39,622,000 last year. Capital expenditures were $40,273,000 against $34,611,000 last year.

Atlantic Tele-Network Inc., Q3 2009 Earnings Call, Oct 30 2009

Atlantic Tele-Network Inc. expected to Report Fiscal Year 2009 Results on March 1, 2010. This event was calculated by Capital IQ (Created on October 20, 2009).