Alaska Communications Systems (ALSK) Tops Q1 EPS by 4c

Alaska Communications Systems (NASDAQ: ALSK) reported Q1 EPS of $0.04, $0.04 better than the analyst estimate of $0.00. Revenue for the quarter came in at $58.3 million versus the consensus estimate of $58.69 million.

“We are pleased with our first quarter 2020 results: Broadband revenues increased 7.2% year over year, and growth revenues continued to outpace declining legacy revenues. This strong business performance strengthens our foundation, and the company is well prepared to manage the challenges related to COVID-19.

“As a premier broadband and managed IT provider in Alaska, we deliver essential services. I am proud of how our employees have responded to the pandemic. They stepped up to serve our customers in this difficult time and continue to drive ahead to achieve our mission. In today’s environment, our customers are negotiating increasing amounts of remote work and our solutions are even more critical. While the small and medium business outlook is unclear, we expect broadband demand for enterprise customers to continue to grow, as demonstrated by the sale of a subsea 100Gb IRU to a carrier customer in April,” said Bill Bishop, president & CEO.

GUIDANCE:

Alaska Communications Systems sees Q2 2020 revenue of $232-237 million.

For earnings history and earnings-related data on Alaska Communications Systems (ALSK) click here.

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