Boston, MA 03/07/2014 (wallstreetpr) – Alaska Communications Systems Group Inc. (NASDAQ:ALSK) a leading provider of communication services to consumers and business in the greater Alaska Region has reported strong financial results for its fourth quarter and full year ending December 31, 2013. The company continues to record strong growth in its businesses as well as wholesale revenues, the massive growth in the company has been attributed to the growth of broadband products.
The Company expects the ongoing momentum to continue in the current year as it was also able to reduce its debt levels by $105.6 million in the fourth quarter. Alaska Communications also realigned its wireless operations which should generate more cash flows in the current fiscal year.
Fourth quarter and Full year financials
Alaska Communications total operating revenues for the fourth quarter came in at $76,267 down from a high of $95,005 reported for the same quarter in 2012. Full year operating revenues clocked in at $348,924 million down from a high of $367,714 reported in 2012. Wireless revenue for the quarter came in at $20.1 million a drop of 5.1% compared to the same quarter a year ago.
Full year revenue was impacted by a $15.7 million in lower revenues as a result of the AWN transaction that closed in July 2013. Excluding Alaska Communications wholesale revenue transactions, business and wholesale service revenue came in at $25.6 million and increase of 5.7% up from $1.4 million with broadband revenues also growing by 19.3%
Alaska Communications Systems Group Inc. (NASDAQ:ALSK) consumer service revenue came in at $10.1 million growing by 2.8% with broadband revenues also growing by 15%. Total operating expenses for the fourth quarter grew to a high of 80,587 up from a low of 76,177 reported in the fourth quarter of 2012. Full year operating expenses dropped from highs of 304,420 reported in 2012 to lows of $100, 528
Alaska Communications gained in Thursday trading session going up by 8.97% to close the day at a high of $2.55
