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November 5, 2010

GCI Q3 revenue up 13.7%

Net income $0.14 per diluted share

By CBR Staff Writer

Alaska-based telecommunicatiosn company General Communication (GCI) has posted revenue of $171.5m for the third quarter of 2010, an increase of 13.7% compared to $150.8m for the same quarter of 2009.

The company has reported an adjusted EBITDA of $62.7m for the third quarter of 2010, an increase of 24.8% compared to an adjusted EBITDA of $50.3m for the same period last year.

For the third quarter ended 30 September 2010, the company’s net income was $7.6m, or $0.14 per diluted share, compared to a net income of $4.3m, or $0.08 per diluted share, for the same period in 2009.

GCI president Ron Duncan said the company originally guided to revenues of $610million to $620m and adjusted EBITDA of $200 to $204m for the year 2010.

"The company’s practice is to provide guidance only on an annual basis. Continued success in consumer, improvements in commercial, and stabilising trends in network access, however, lead us to conclude that GCI will exceed its revenue and adjusted EBITDA guidance for the year," Duncan said.

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