Alaska Communications Systems Group Inc. (ALSK, Financial) filed Quarterly Report for the period ended 2009-03-31.
ALASKA COMM SYS is engaged principally in providing local telephone wireless and inter-exchange network and data services to its customers in the State of Alaska through its telecommunications subsidiaries. They are a diversified facilities-based telecommunications provider in Alaska offering local telephone cellular long distance data and Internet services to business and residential customers throughout the state. Alaska Communications Systems Group Inc. has a market cap of $291.2 million; its shares were traded at around $6.66 with a P/E ratio of 60.5 and P/S ratio of 0.8. The dividend yield of Alaska Communications Systems Group Inc. stocks is 12.9%.
Enterprise: Enterprise revenue increased in 2009 primarily due to $2.3 million in carrier data, $0.8 million in LD wholesale carrier voice, and $0.8 million in sales of advanced network services to large business and government customers.
In the quarter ended March 31, 2009, wireless revenue increased 5.6% over the period ended March 31, 2008. The increase is due primarily to $2.5 million in Competitive Eligible Telecommunications Carrier (CETC) revenue and a $1.1 million increase in data rich custom calling feature revenues. These increases were partially offset by lower priced voice plans initiated in the prior year to match national price points for voice plans.
Wireline: Wireline expenses, which include local telephone, Internet, interexchange and cable systems operating costs, increased for the quarter ended March 31, 2009 over March 31, 2008, primarily due to a $1.6 million increase in labor expense related to our new cable operations, a $1.0 million increase in land and building facilities related charges, a $0.5 million increase in LD interstate COGS and a $0.3 million increase in DSL COGS.
We have satisfied our cash requirements in the first quarter of 2009 for operations, capital expenditures and debt service primarily through internally generated funds. For the three months ended March 31, 2009, our net cash flows provided by operating activities were $28.0 million. At March 31, 2009, we had approximately $17.8 million in net working capital, of which approximately $2.8 million was cash and cash equivalents and $12.0 million was restricted cash. As of March 31, 2009, we had full access to our $45.0 million revolving credit facility.
Our networks require the timely maintenance of plant and infrastructure. Our historical capital expenditures have been, and continue to be, significant. Cash outflows for capital expenditures for the three months ended March 31, 2009 were $19.1 million, inclusive of $12.3 million in net settlements of capital expenditure payables since December 31, 2008. New capital acquisition for 2009 totaled $6.8 million of which $1.8 million was expended on the build out of our AKORN facility. We intend to fund future capital expenditures with cash on hand and net cash generated from operations.
Read the The complete ReportALSK is in the portfolios of David Dreman of Dreman Value Management, David Dreman of Dreman Value Management.
ALASKA COMM SYS is engaged principally in providing local telephone wireless and inter-exchange network and data services to its customers in the State of Alaska through its telecommunications subsidiaries. They are a diversified facilities-based telecommunications provider in Alaska offering local telephone cellular long distance data and Internet services to business and residential customers throughout the state. Alaska Communications Systems Group Inc. has a market cap of $291.2 million; its shares were traded at around $6.66 with a P/E ratio of 60.5 and P/S ratio of 0.8. The dividend yield of Alaska Communications Systems Group Inc. stocks is 12.9%.
Highlight of Business Operations:
Retail: Retail revenue decreased in the three months ended March 31, 2009 over March 31, 2008 primarily due to a $0.9 million decline in local exchange revenue associated with residential line losses and lower CPE sales to businesses; and a $0.2 million decline in long distance sales. These losses were offset in part by a $0.4 million increase in revenue from our Internet Service Provider (ISP) subscriber base.Enterprise: Enterprise revenue increased in 2009 primarily due to $2.3 million in carrier data, $0.8 million in LD wholesale carrier voice, and $0.8 million in sales of advanced network services to large business and government customers.
In the quarter ended March 31, 2009, wireless revenue increased 5.6% over the period ended March 31, 2008. The increase is due primarily to $2.5 million in Competitive Eligible Telecommunications Carrier (CETC) revenue and a $1.1 million increase in data rich custom calling feature revenues. These increases were partially offset by lower priced voice plans initiated in the prior year to match national price points for voice plans.
Wireline: Wireline expenses, which include local telephone, Internet, interexchange and cable systems operating costs, increased for the quarter ended March 31, 2009 over March 31, 2008, primarily due to a $1.6 million increase in labor expense related to our new cable operations, a $1.0 million increase in land and building facilities related charges, a $0.5 million increase in LD interstate COGS and a $0.3 million increase in DSL COGS.
We have satisfied our cash requirements in the first quarter of 2009 for operations, capital expenditures and debt service primarily through internally generated funds. For the three months ended March 31, 2009, our net cash flows provided by operating activities were $28.0 million. At March 31, 2009, we had approximately $17.8 million in net working capital, of which approximately $2.8 million was cash and cash equivalents and $12.0 million was restricted cash. As of March 31, 2009, we had full access to our $45.0 million revolving credit facility.
Our networks require the timely maintenance of plant and infrastructure. Our historical capital expenditures have been, and continue to be, significant. Cash outflows for capital expenditures for the three months ended March 31, 2009 were $19.1 million, inclusive of $12.3 million in net settlements of capital expenditure payables since December 31, 2008. New capital acquisition for 2009 totaled $6.8 million of which $1.8 million was expended on the build out of our AKORN facility. We intend to fund future capital expenditures with cash on hand and net cash generated from operations.
Read the The complete ReportALSK is in the portfolios of David Dreman of Dreman Value Management, David Dreman of Dreman Value Management.
