Hawaiian Telcom (HCOM) Poss Q1 Loss of $0.17, Revs of $94.5M

Hawaiian Telcom (NASDAQ: HCOM) reported Q1 EPS of ($0.17), which may not compare to the analyst estimate of $0.02. Revenue for the quarter came in at $94.5 million versus the consensus estimate of $97.21 million.

• Revenue totaled $94.5 million, resulting in Adjusted EBITDA(1) of $27.1 million.
• Business strategic revenue(2) was $17.1 million, compared to $18.0 million in the same period in the prior year. Excluding one-time revenues related to two large institutional customers recorded in the first quarter 2016, normalized business strategic revenue for the quarter increased 7.8 percent year-over-year, driven by strong growth in Ethernet, dedicated Internet access, and VoIP revenues.
• Consumer strategic revenue(2) increased nearly 1 percent year-over-year to $17.3 million, driven by a solid 12.4 percent growth in video services revenue.
• Hawaiian Telcom TV subscribers grew 15.3 percent to nearly 42,800. When combined with approximately 5,500 additional Internet subscribers on our Next-Generation Network (NGN) that do not have our TV service, our penetration in our NGN footprint is 24 percent, an increase from 21 percent in the same period the prior year.
• Incurred a net loss of $2.0 million, or $0.17 per diluted share for the quarter, primarily due to $3.7 million in non-cash pension expense and other related one-time costs associated with employee retirements in the quarter.
• Successfully landed the trans-Pacific undersea cable to Hawaiʻi cable landing station. Overall system is on track to be ready for service in third quarter 2017.
• Successfully refinanced the existing credit facility with a new term loan of $320 million, extending maturity, reducing effective interest rate, and providing added flexibility to enhance shareholder value.

For earnings history and earnings-related data on Hawaiian Telcom (HCOM) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Algorhythm Holdings (RIME) Tops Q2 EPS by 54c
• Edible Garden AG (EDBL) Reports Q2 Loss of $18.79