Atlantic Tele-Network, a provider of wireless and wireline telecommunications services, has reported revenue of $164.4m for the second quarter of fiscal 2010, an increase of 172% as compared to $60.4m for the same period in 2009.
For the quarter ended June 30, 2010, the company reported an operating income of $7.8m, a decrease of 57% as compared to $18.1m of Q2 FY09. The operating expenses increased from $42.3m in Q2 FY09 to $156.7m.
The company has posted a net income attributable to stockholders of $24.8m for the second quarter of 2010, as compared to $9.6m for the same period in 2009, an increase of 158%. On a per share basis, net income attributable to stockholders increased by 154% to $1.60 per diluted share from $0.63 per diluted share for the three months ended June 30, 2009.
Michael Prior, CEO at Atlantic Tele-Network, said: "The completion of the Alltel asset acquisition was a major milestone for our Company and in our strategy to provide high quality telecommunications services to traditionally underserved markets such as rural America.
"The wholesale side of our US wireless revenues benefited from increased revenues related to the Alltel asset acquisition, but our legacy markets were relatively unchanged, mainly due to previous rate reductions. We expect to see a sequential increase in wholesale revenue in the third quarter as a result of seasonal factors, overall traffic growth and the continued expansion of our footprint."
