Strong Hawaiian Telcom TV Subscriber
Growth of More Than 2,100
Video ARPU Up 12 Percent
Quarter-Over-Quarter
Business Data Revenue Grew 37
Percent
SystemMetrics Acquisition
Expands Data Center Business
Hawaiian Telcom Holdco, Inc. (Nasdaq:HCOM) reported financial
results for its third quarter ended September 30. The highlights
are as follows:
- Revenue of $97.7 million grew by $1.0 million, or 1.1 percent,
from $96.6 million in the prior year, resulting in Adjusted
EBITDA(1) of $30.0 million.
- Generated net income of $2.1 million, or $0.18 per diluted
share for the quarter, its twelfth consecutive quarter of
profitability.
- Consumer revenue increased 2.4 percent year-over-year to $35.3
million, driven by growth in video and high-speed Internet (HSI)
revenue of $2.2 million and $0.9 million, respectively.
- Added over 2,100 Hawaiian Telcom TV subscribers during the
third quarter, ending the quarter with approximately 15,800
subscribers.
- Hawaiian Telcom TV average revenue per user (ARPU) grew 12
percent quarter-over-quarter.
- Enabled 11,000 households in the quarter, increasing its total
to 111,000 households enabled.
- Business data revenue increased 37 percent year-over-year
driven by growth in switched Ethernet, IP-VPN and dedicated
Internet access revenues, and revenue from Wavecom Solutions
Corporation (Wavecom).
- Successfully completed the acquisition of data center services
provider SystemMetrics Corporation (SystemMetrics), creating a
leading Hawaii cloud and colocation provider with statewide
capabilities(2).
"Hawaiian Telcom's third quarter results reflect our continued
success toward repositioning the Company in the key growth areas of
our business," said Eric K. Yeaman, Hawaiian Telcom's president and
CEO. "We have brought a new level of competition and choice to
the people of Hawaii with our next-generation Hawaiian Telcom TV
service, now serving over 15,000 video subscribers and supporting
strong HSI subscriber growth as more customers bundle
services."
"With the completion of the SystemMetrics acquisition, we took
an important step toward meeting our goal of being the preeminent
data center services provider in the State of Hawaii and we better
positioned the Company to accelerate its overall growth
strategy. When combined with our existing suite of IP-based
services and Hawaii's most extensive and reliable broadband
network, we have created a powerful platform for long-term
success.
"We are excited by the portfolio of communications, data center
and entertainment services that we are delivering to our customers,
which further strengthens our competitive position and enables us
to better address the key opportunities in our marketplace. We
believe our continued investment in our key strategic initiatives
will further transform our growth profile, lead to stronger
financial results and drive long-term shareholder value," concluded
Yeaman.
Third Quarter 2013 Results
Third quarter revenue was $97.7 million, a 1.1 percent increase
compared with $96.6 million in the third quarter of
2012. Revenue growth in the quarter was driven by video, HSI,
and revenues related to the Wavecom acquisition, which more than
offset the impact from a decrease in equipment and managed services
revenue and a 2.3 percent decline in access lines, inclusive of
Wavecom lines. Adjusted EBITDA was $30.0 million, a decrease
of $0.9 million year-over-year, primarily due to increased direct
cost of goods related to video and a favorable excise tax
adjustment recorded in the year-ago quarter.
The Company generated net income of $2.1 million, or $0.18 per
diluted share for the quarter, compared to $5.6 million or $0.52
per diluted share in the same period a year ago. The decrease
was primarily due to a $2.0 million increase in depreciation and
amortization as a result of investments made to its broadband
network and assets it added from the acquisition of Wavecom, and a
$1.8 million deferred tax provision, partially offset by a $1.4
million decrease in interest expense driven by its recent
refinancing.
Consumer Revenue
Third quarter consumer revenue totaled $35.3 million, up 2.4
percent year-over-year primarily driven by revenue growth from the
Company's Hawaiian Telcom TV and HSI services. Revenue growth
in video and HSI services continues to more than offset lower
revenue from legacy services, and combined those services now
represent 30 percent of consumer revenue, up from 22 percent in the
same period a year ago.
Video service revenue grew to $3.7 million for the quarter, up
from $1.5 million in the same period a year ago, driven by the
addition of over 7,300 subscribers to reach a total of
approximately 15,800 subscribers at the end of the third
quarter. Hawaiian Telcom TV average revenue per user was up
approximately 22 percent year-over-year. For the quarter,
11,000 additional households were enabled, increasing the total
number of households enabled to 111,000. Hawaiian Telcom TV
penetration of households enabled was approximately 14 percent at
the end of the third quarter.
Consumer HSI revenue also was up from the same period a year
ago, led by a 4.3 percent year-over-year increase in consumer HSI
subscribers to approximately 90,250, which was primarily driven by
high HSI pull-through rates from new video subscribers, and
standalone HSI subscriber additions. As of September 30, 2013,
approximately 56 percent of all video subscribers had triple-play
bundles and approximately 89 percent had double-, or triple-play
bundles. Increases driven by next-generation consumer video
and HSI services were partially offset by declines in legacy
consumer access and long distance lines of 8.5 percent and 7.5
percent, respectively.
Business Revenue
Third quarter business revenue totaled $42.7 million, up 2.7
percent from the same period a year ago, primarily due to revenue
added as a result of the Wavecom acquisition. Business data
revenue, excluding Wavecom-related revenue, increased 11 percent
year-over-year driven by higher demand for IP-based data
services. These increases were partially offset by a $1.5
million year-over-year decrease in equipment and managed services
revenue and the year-over-year decline in legacy business access
and long distance revenues.
Wholesale Revenue
Third quarter wholesale revenue totaled $16.5 million, down 6.6
percent from the same period a year ago. Wholesale carrier
data revenue declined $0.8 million year-over-year to $14.9 million,
mainly due to the elimination of previously recognized revenue that
related to services provided to Wavecom. Switched carrier
access revenue declined $0.6 million year-over-year to $1.6
million, equally attributable to the overall declines in access
lines and minutes of use, and the impact of intercarrier
compensation reform.
Operating Expenses, Capital Expenditures and
Liquidity
Operating expenses, exclusive of depreciation and amortization,
one-time charges and non-cash stock compensation, increased 2.9
percent to $67.7 million, primarily due to increased direct cost of
goods related to video and higher costs related to the Wavecom
acquisition, partially offset by decreased cost of goods related to
lower levels of equipment sales.
Capital expenditures totaled $69.8 million in the nine-months
ended September 30, 2013, up from $61.0 million for the nine-month
period a year ago primarily due to greater investment in broadband
network infrastructure and increased success-based spending to
support the subscriber growth of Hawaiian Telcom TV and
Fiber-to-the-Tower builds. In addition, the Company won a large
long-term success-based project from a major institution and
expects to finalize a similar project with another major
institution in the fourth quarter. As a result of these new
projects, the Company is raising its 2013 capital expenditure
guidance from the low-$80 million range to the mid-$80 million
range.
At the end of third quarter 2013, the Company had $45.1 million
in cash and cash equivalents compared to $67.0 million at the end
of 2012. The reduction is primarily related to $11.9 million
of cash used for the acquisition of SystemMetrics, $7.9 million of
costs (including prepayment premium, original issue discount, and
fees and expenses) associated with the refinancing of its $300
million term loan, higher capital expenditures, and temporary uses
of working capital, partially offset by $13.1 million of net
proceeds received from the sale of a parcel of land. Net
Debt(3) was $250.1 million, resulting in a Net Debt to Adjusted
EBITDA ratio as of September 30, 2013 of 2.04x.
Conference Call
The Company will host a conference call to discuss its third
quarter 2013 results at 9:00 a.m. (Hawaii Time), or 2:00 p.m.
(Eastern Time) on Tuesday, November 12, 2013.
To access the call, participants should dial (866) 515-2908
(US/Canada), or (617) 399-5122 (International) ten minutes prior to
the start of the call and enter passcode 29092422.
A live webcast of the conference call, including a slide
presentation, will be available from the Investor Relations section
of the Company's website at http://hawaiiantel.com. The
webcast will be archived at the same location.
A telephonic replay of the conference call will be available one
hour after the conclusion of the call until 11:59 p.m. (Eastern
Time) November 19, 2013. Access the replay by dialing (888)
286-8010 and entering passcode 45131080. Alternatively, the
replay can be accessed by dialing (617) 801-6888 and entering
passcode 45131080.
Use of Non-GAAP Financial Measures
This press release contains information about adjusted earnings
before interest, taxes, depreciation and amortization (Adjusted
EBITDA) and Net Debt. These are non-GAAP financial measures used by
Hawaiian Telcom management when evaluating results of operations.
Management believes these measures also provide users of the
financial statements with additional and useful comparisons of
current results of operations with past and future periods.
Non-GAAP financial measures should not be construed as being more
important than comparable GAAP measures. Detailed reconciliations
of Adjusted EBITDA and Net Debt to comparable GAAP financial
measures have been included in the tables distributed with this
release and are available in the Investor Relations section at
www.hawaiiantel.com.
Forward-Looking Statements
In addition to historical information, this release includes
certain statements and predictions that constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. In particular, any statement, projection
or estimate that includes or references the words "believes",
"anticipates", "intends", "expected", or any similar expression
falls within the safe harbor of forward-looking statements
contained in the Reform Act. Actual results or outcomes may
differ materially from those indicated or suggested by any such
forward-looking statement for a variety of reasons, including, but
not limited to, Hawaiian Telcom's ability to maintain its market
position in communications services, including voice, video,
Internet, data, wireless, and advanced communication and network
services; general economic trends affecting the purchase or supply
of communication services; world and national events that may
affect the ability to provide services; changes in the regulatory
environment; any rulings, orders or decrees that may be issued by
any court or arbitrator; restrictions imposed under various credit
facilities and debt instruments; work stoppages caused by labor
disputes; adjustments resulting from year-end audit procedures; and
Hawaiian Telcom's ability to develop and launch new products and
services. More information on potential risks and uncertainties is
available in recent filings with the Securities and Exchange
Commission, including Hawaiian Telcom's 2012 Annual Report on Form
10-K. The information contained in this release is as of November
12, 2013. It is anticipated that subsequent events and developments
may cause estimates to change, and the Company undertakes no duty
to update forward-looking statements.
About Hawaiian Telcom
Hawaiian Telcom Holdco, Inc., headquartered in Honolulu, is
Hawaii's leading provider of integrated communications, data center
and entertainment solutions for business and residential customers.
With roots in Hawaii beginning in 1883, the Company offers a full
range of services including voice, video, Internet, data, wireless,
and advanced communication and network services supported by the
reach and reliability of its network and Hawaii's only 24/7
state-of-the-art network operations center. With employees
statewide sharing a commitment to innovation and a passion for
delivering superior service, Hawaiian Telcom provides an Always
OnSM customer experience. For more information, visit
www.hawaiiantel.com.
The Hawaiian Telcom Holdco, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=10087
(1) Adjusted EBITDA is EBITDA plus
non-recurring costs not expected to occur regularly in the ordinary
course of business. EBITDA is defined as net income plus
interest expense (net of interest income and other), income taxes,
depreciation and amortization, non-cash stock compensation and gain
on sale of property. The Company believes both of these
non-GAAP measures, Adjusted EBITDA and EBITDA, are meaningful
performance measures for investors because they are used by our
Board and management to evaluate performance, enhance comparability
between periods and make operating decisions. Our use of
Adjusted EBITDA and EBITDA may not be comparable to similarly
titled measures used by other companies in the telecommunications
industry. A detailed reconciliation of Adjusted EBITDA and
EBITDA to comparable GAAP financial measures has been included in
the tables distributed with this release.
(2) The acquisition of SystemMetrics
Corporation was valued at $16.3 million, of which $11.9 million was
payable at closing net of cash acquired, customary working capital
adjustments and earn-out provisions.
(3) Net Debt provides a useful measure of
liquidity and financial health. The Company defines Net Debt as the
sum of the face amount of short-term and long-term debt and
unamortized premium and/or discount, offset by cash and cash
equivalents. A detailed reconciliation of Net Debt has been
included in the tables distributed with this release.
| Hawaiian Telcom Holdco,
Inc. |
| Consolidated Statements
of Income |
| (Unaudited, dollars in
thousands, except per share amounts) |
| |
| |
| |
Three Months
Ended |
Nine Months
Ended |
| |
September
30, |
September
30, |
| |
2013 |
2012 |
2013 |
2012 |
| |
|
|
|
|
| Operating revenues |
$ 97,682 |
$ 96,647 |
$ 290,643 |
$ 288,910 |
| |
|
|
|
|
| Operating expenses: |
|
|
|
|
| Cost of revenues (exclusive of
depreciation and amortization) |
41,829 |
41,176 |
122,073 |
121,407 |
| Selling, general and
administrative |
27,965 |
26,547 |
84,860 |
82,567 |
| Gain on sale of property |
-- |
-- |
(6,546) |
-- |
| Depreciation and amortization |
19,974 |
18,023 |
58,532 |
51,965 |
| |
|
|
|
|
| Total operating expenses |
89,768 |
85,746 |
258,919 |
255,939 |
| |
|
|
|
|
| Operating income |
7,914 |
10,901 |
31,724 |
32,971 |
| |
|
|
|
|
| Other income (expense): |
|
|
|
|
| Interest expense |
(4,089) |
(5,490) |
(14,712) |
(16,890) |
| Loss on early extinguishment of
debt |
-- |
-- |
(3,660) |
(5,112) |
| Interest income and other |
7 |
10 |
28 |
28 |
| |
|
|
|
|
| Total other expense |
(4,082) |
(5,480) |
(18,344) |
(21,974) |
| |
|
|
|
|
| Income before income tax provision
(benefit) |
3,832 |
5,421 |
13,380 |
10,997 |
| |
|
|
|
|
| Income tax provision (benefit) |
1,771 |
(194) |
5,521 |
(346) |
| |
|
|
|
|
| Net income |
$ 2,061 |
$ 5,615 |
$ 7,859 |
$ 11,343 |
| |
|
|
|
|
| |
|
|
|
|
| Net income per common share - |
|
|
|
|
| Basic |
$ 0.20 |
$ 0.55 |
$ 0.76 |
$ 1.11 |
| Diluted |
$ 0.18 |
$ 0.52 |
$ 0.71 |
$ 1.06 |
| |
|
|
|
|
| |
|
|
|
|
| Weighted average shares used to compute net
income per common share - |
|
|
|
|
| Basic |
10,337,488 |
10,246,335 |
10,321,905 |
10,230,719 |
| Diluted |
11,206,159 |
10,708,454 |
11,096,177 |
10,658,517 |
| |
|
|
|
|
| Hawaiian Telcom Holdco,
Inc. |
| Consolidated Balance
Sheets |
| (Unaudited, dollars in
thousands, except per share amounts) |
| |
| |
| |
September 30, |
December 31, |
| |
2013 |
2012 |
| |
|
|
| Assets |
|
|
| |
|
|
| Current assets |
|
|
| Cash and cash equivalents |
$ 45,114 |
$ 66,993 |
| Receivables, net |
36,706 |
34,082 |
| Material and supplies |
15,268 |
11,352 |
| Prepaid expenses |
5,344 |
5,161 |
| Deferred income taxes, current |
5,892 |
5,727 |
| Other current assets |
2,751 |
2,181 |
| Total current assets |
111,075 |
125,496 |
| Property, plant and equipment, net |
517,874 |
507,197 |
| Intangible assets, net |
41,052 |
39,075 |
| Goodwill |
11,783 |
1,569 |
| Deferred income taxes |
94,908 |
102,680 |
| Other assets |
12,315 |
9,075 |
| |
|
|
| Total assets |
$ 789,007 |
$ 785,092 |
| |
|
|
| Liabilities and Stockholders'
Equity |
|
|
| |
|
|
| Current liabilities |
|
|
| Current portion of long-term
debt |
$ 3,000 |
$ 3,000 |
| Accounts payable |
39,102 |
36,351 |
| Accrued expenses |
16,227 |
20,537 |
| Advance billings and customer
deposits |
16,159 |
15,185 |
| Other current liabilities |
5,387 |
3,961 |
| Total current liabilities |
79,875 |
79,034 |
| Long-term debt |
292,248 |
292,410 |
| Employee benefit obligations |
121,014 |
132,004 |
| Other liabilities |
9,309 |
4,784 |
| Total liabilities |
502,446 |
508,232 |
| |
|
|
| Commitments and contingencies (Note
12) |
|
|
| |
|
|
| Stockholders' equity |
|
|
| Common stock, par value of $0.01 per
share, 245,000,000 shares authorized and 10,338,737 and 10,291,897
shares issued and outstanding at September 30, 2013 and December
31, 2012, respectively |
103 |
103 |
| Additional paid-in capital |
167,401 |
165,941 |
| Accumulated other comprehensive
loss |
(28,068) |
(28,450) |
| Retained earnings |
147,125 |
139,266 |
| Total stockholders' equity |
286,561 |
276,860 |
| |
|
|
| Total liabilities and stockholders'
equity |
$ 789,007 |
$ 785,092 |
| |
|
|
| Hawaiian Telcom Holdco,
Inc. |
| Consolidated Statements
of Cash Flows |
| (Unaudited, dollars in
thousands) |
| |
| |
| |
Nine Months
Ended |
| |
September
30, |
| |
2013 |
2012 |
| |
|
|
| Cash flows from operating
activities: |
|
|
| Net income |
$ 7,859 |
$ 11,343 |
| Adjustments to reconcile net income to net
cash provided by operating activities |
|
|
| Depreciation and amortization |
58,532 |
51,965 |
| Loss on early extinguishment of
debt |
3,660 |
5,112 |
| Gain on sale of property |
(6,546) |
-- |
| Employee retirement benefits |
(10,324) |
(11,001) |
| Provision for uncollectibles |
2,003 |
2,526 |
| Stock based compensation |
1,886 |
1,343 |
| Deferred income taxes |
6,018 |
-- |
| Changes in operating assets and
liabilities: |
|
|
| Receivables |
(4,142) |
(1,552) |
| Material and supplies |
(3,916) |
(2,153) |
| Prepaid expenses and other current
assets |
(1,064) |
(2,600) |
| Accounts payable and accrued
expenses |
(2,064) |
1,768 |
| Advance billings and customer
deposits |
323 |
980 |
| Other current liabilities |
106 |
296 |
| Other |
2,446 |
1,021 |
| Net cash provided by operating
activities |
54,777 |
59,048 |
| |
|
|
| Cash flows from investing
activities: |
|
|
| Capital expenditures |
(69,809) |
(61,019) |
| Acquisitions |
(11,858) |
-- |
| Proceeds on sale of property |
13,118 |
-- |
| Net cash used in investing
activities |
(68,549) |
(61,019) |
| |
|
|
| Cash flows from financing
activities: |
|
|
| Repayment of capital lease |
(406) |
-- |
| Repayment of debt including
premium |
(302,333) |
(306,000) |
| Proceeds from borrowing |
298,500 |
295,500 |
| Loan refinancing costs |
(3,442) |
(4,130) |
| Taxes paid related to net share settlement of
equity awards |
(426) |
(53) |
| Net cash used in financing
activities |
(8,107) |
(14,683) |
| |
|
|
| Net change in cash and cash
equivalents |
(21,879) |
(16,654) |
| Cash and cash equivalents, beginning of
period |
66,993 |
82,063 |
| |
|
|
| Cash and cash equivalents, end of
period |
$ 45,114 |
$ 65,409 |
| |
|
|
| Supplemental disclosure of cash flow
information: |
|
|
| Interest paid, net of amounts
capitalized |
$ 14,416 |
$ 17,054 |
| |
|
|
| Hawaiian Telcom Holdco,
Inc. |
| Revenue by Category and
Channel |
| (Unaudited, dollars in
thousands) |
| |
| |
| For Three
Months |
| |
| |
Three Months
Ended |
|
|
| |
September
30, |
Change |
| |
2013 |
2012 |
Amount |
Percentage |
| |
|
|
|
|
| Wireline Services |
|
|
|
|
| Local voice services |
$ 34,195 |
$ 35,257 |
$ (1,062) |
-3.0% |
| Network access services |
|
|
|
|
| Business data |
6,282 |
4,600 |
1,682 |
36.6% |
| Wholesale carrier data |
14,850 |
15,676 |
(826) |
-5.3% |
| Subscriber line access charge |
9,442 |
9,619 |
(177) |
-1.8% |
| Switched carrier access |
1,623 |
2,226 |
(603) |
-27.1% |
| |
32,197 |
32,121 |
76 |
0.2% |
| Long distance services |
6,091 |
6,735 |
(644) |
-9.6% |
| High-Speed Internet |
9,999 |
9,013 |
986 |
10.9% |
| Video |
3,717 |
1,528 |
2,189 |
143.3% |
| Equipment and managed services |
7,228 |
8,715 |
(1,487) |
-17.1% |
| Other |
3,579 |
2,472 |
1,107 |
44.8% |
| |
97,006 |
95,841 |
1,165 |
1.2% |
| Wireless |
676 |
806 |
(130) |
-16.1% |
| |
$ 97,682 |
$ 96,647 |
$ 1,035 |
1.1% |
| |
|
|
|
|
| Channel |
|
|
|
|
| Business |
$ 42,739 |
$ 41,618 |
$ 1,121 |
2.7% |
| Consumer |
35,298 |
34,486 |
812 |
2.4% |
| Wholesale |
16,473 |
17,634 |
(1,161) |
-6.6% |
| Other |
3,172 |
2,909 |
263 |
9.0% |
| |
$ 97,682 |
$ 96,647 |
$ 1,035 |
1.1% |
| |
|
|
|
|
| For Nine
Months |
| |
| |
Nine Months
Ended |
|
|
| |
September
30, |
Change |
| |
2013 |
2012 |
Amount |
Percentage |
| |
|
|
|
|
| Wireline Services |
|
|
|
|
| Local voice services |
$ 103,859 |
$ 106,684 |
$ (2,825) |
-2.6% |
| Network access services |
|
|
|
|
| Business data |
18,885 |
14,152 |
4,733 |
33.4% |
| Wholesale carrier data |
45,123 |
47,310 |
(2,187) |
-4.6% |
| Subscriber line access charge |
28,507 |
29,211 |
(704) |
-2.4% |
| Switched carrier access |
5,125 |
6,861 |
(1,736) |
-25.3% |
| |
97,640 |
97,534 |
106 |
0.1% |
| Long distance services |
18,804 |
21,342 |
(2,538) |
-11.9% |
| High-Speed Internet |
29,495 |
26,948 |
2,547 |
9.5% |
| Video |
8,784 |
3,060 |
5,724 |
187.1% |
| Equipment and managed services |
19,724 |
23,604 |
(3,880) |
-16.4% |
| Other |
10,253 |
7,168 |
3,085 |
43.0% |
| |
288,559 |
286,340 |
2,219 |
0.8% |
| Wireless |
2,084 |
2,570 |
(486) |
-18.9% |
| |
$ 290,643 |
$ 288,910 |
$ 1,733 |
0.6% |
| |
|
|
|
|
| Channel |
|
|
|
|
| Business |
$ 125,820 |
$ 123,481 |
$ 2,339 |
1.9% |
| Consumer |
104,794 |
102,778 |
2,016 |
2.0% |
| Wholesale |
50,248 |
53,903 |
(3,655) |
-6.8% |
| Other |
9,781 |
8,748 |
1,033 |
11.8% |
| |
$ 290,643 |
$ 288,910 |
$ 1,733 |
0.6% |
| |
|
|
|
|
| Hawaiian Telcom Holdco,
Inc. |
| Schedule of Adjusted
EBITDA Calculation |
| (Unaudited, dollars in
thousands) |
| |
| |
| |
Three Months
Ended |
Nine Months
Ended |
LTM Ended |
| |
September
30, |
September
30, |
September 30, |
| |
2013 |
2012 |
2013 |
2012 |
2013 |
| |
|
|
|
|
|
| Net income |
$ 2,061 |
$ 5,615 |
$ 7,859 |
$ 11,343 |
$ 106,498 |
| Income tax provision (benefit) |
1,771 |
(194) |
5,521 |
(346) |
(85,495) |
| Interest expense and other income and
expense, net |
4,082 |
5,480 |
18,344 |
21,974 |
23,606 |
| Depreciation and amortization |
19,974 |
18,023 |
58,532 |
51,965 |
77,475 |
| Non-cash stock compensation |
735 |
503 |
1,886 |
1,343 |
2,415 |
| Gain on sale of property |
-- |
-- |
(6,546) |
-- |
(6,546) |
| EBITDA |
28,623 |
29,427 |
85,596 |
86,279 |
117,953 |
| Non-recurring costs |
733 |
694 |
1,858 |
1,655 |
2,768 |
| Severance costs |
304 |
752 |
712 |
752 |
712 |
| Wavecom integration costs |
341 |
-- |
969 |
-- |
969 |
| |
|
|
|
|
|
| Adjusted EBITDA |
$ 30,001 |
$ 30,873 |
$ 89,135 |
$ 88,686 |
$ 122,402 |
| |
|
|
|
|
|
| Hawaiian Telcom Holdco,
Inc. |
| Net Debt to LTM
Adjusted EBITDA Ratio |
| (Unaudited, dollars in
thousands) |
| |
| |
| Long-term debt as of September 30,
2013 |
$ 295,248 |
| Less cash on hand |
(45,114) |
| Total Net Debt as of September 30,
2013 |
$ 250,134 |
| |
|
| LTM Adjusted EBITDA as of September 30,
2013 |
$ 122,402 |
| |
|
| Total Net Debt to Adjusted EBITDA |
2.04x |
| |
|
| Hawaiian Telcom Holdco,
Inc. |
| Volume
Information |
|
(Unaudited) |
| |
| |
| September 2013 compared
to September 2012 |
| |
| |
September 30, |
September 30, |
Change |
| |
2013 |
2012 |
Number |
Percentage |
| |
|
|
|
|
| Voice access lines |
|
|
|
|
| Residential |
190,013 |
207,732 |
(17,719) |
-8.5% |
| Business * |
194,623 |
185,849 |
8,774 |
4.7% |
| Public |
4,246 |
4,467 |
(221) |
-4.9% |
| |
388,882 |
398,048 |
(9,166) |
-2.3% |
| |
|
|
|
|
| High-Speed Internet lines |
|
|
|
|
| Residential |
90,253 |
86,570 |
3,683 |
4.3% |
| Business |
19,163 |
18,260 |
903 |
4.9% |
| Wholesale |
986 |
1,014 |
(28) |
-2.8% |
| |
110,402 |
105,844 |
4,558 |
4.3% |
| |
|
|
|
|
| Long distance lines |
|
|
|
|
| Residential |
119,096 |
128,760 |
(9,664) |
-7.5% |
| Business * |
79,320 |
75,529 |
3,791 |
5.0% |
| |
198,416 |
204,289 |
(5,873) |
-2.9% |
| |
|
|
|
|
| Video |
|
|
|
|
| Subscribers |
15,796 |
8,444 |
7,352 |
87.1% |
| Homes Enabled |
111,000 |
59,422 |
51,578 |
86.8% |
| |
|
|
|
|
| * Business voice access
lines and business long distance lines included approximately
11,000 and 6,100 lines, respectively, as of September 30, 2013
related to the acquisition of Wavecom. |
| |
|
|
|
|
| September 2013 compared
to June 2013 |
| |
| |
September 30, |
June 30, |
Change |
| |
2013 |
2013 |
Number |
Percentage |
| |
|
|
|
|
| Voice access lines |
|
|
|
|
| Residential |
190,013 |
194,365 |
(4,352) |
-2.2% |
| Business |
194,623 |
195,756 |
(1,133) |
-0.6% |
| Public |
4,246 |
4,291 |
(45) |
-1.0% |
| |
388,882 |
394,412 |
(5,530) |
-1.4% |
| |
|
|
|
|
| High-Speed Internet lines |
|
|
|
|
| Residential |
90,253 |
89,737 |
516 |
0.6% |
| Business |
19,163 |
18,986 |
177 |
0.9% |
| Wholesale |
986 |
998 |
(12) |
-1.2% |
| |
110,402 |
109,721 |
681 |
0.6% |
| |
|
|
|
|
| Long distance lines |
|
|
|
|
| Residential |
119,096 |
121,591 |
(2,495) |
-2.1% |
| Business |
79,320 |
79,956 |
(636) |
-0.8% |
| |
198,416 |
201,547 |
(3,131) |
-1.6% |
| |
|
|
|
|
| Video |
|
|
|
|
| Subscribers |
15,796 |
13,618 |
2,178 |
16.0% |
| Homes Enabled |
111,000 |
100,000 |
11,000 |
11.0% |
CONTACT: Investor Relations Contact:
Brian Tanner, Hawaiian Telcom
(201) 706-8965
brian.tanner@hawaiiantel.com
Media Contact:
Su Shin, Hawaiian Telcom
(808) 546-2344
su.shin@hawaiiantel.com
Hawaiian Telcom Holdco, Inc. (delisted) (NASDAQ:HCOM)
過去 株価チャート
から 6 2024 まで 7 2024
Hawaiian Telcom Holdco, Inc. (delisted) (NASDAQ:HCOM)
過去 株価チャート
から 7 2023 まで 7 2024
