EX-99.1 2 a16-8022_1ex99d1.htm EX-99.1

Exhibit 99.1

 

Recast Segment Financial Data

 

In 2016, Atlantic Tele-Network, Inc. (the “Company”) announced a change in its segment reporting structure.  During the first quarter of 2016, the Company’s chief operating decision maker changed the information he regularly reviews to allocate resources and assess performance.  As a result, beginning in 2016, the Company will report its financial performance based on three reportable segments: U.S. Telecom, International Telecom, and Renewable Energy.  The U.S. Telecom segment consists of the Company’s U.S. wireless and U.S. wireline business activities.  The International Telecom segment consists of the Company’s international wireless and wireline business activities, which currently operate in Guyana, Bermuda, U.S. Virgin Islands, and Aruba.  The Renewable Energy segment consists of the Company’s renewable energy business activities.

 

The following tables set forth an unaudited recast of segment revenue, depreciation and amortization, operating income (loss), fixed asset, and capital expenditures data for the periods identified (in thousands).  The recasting of previously issued financial information does not present a restatement of previously issued financial statements and does not affect the Company’s reported net income, earnings per share, total assets, or stockholders’ equity for any of the previously reported periods.

 

For the Three Months Ended March 31, 2014

 

 

 

U.S.

 

International

 

Renewable

 

Reconciling

 

 

 

 

 

Telecom

 

Telecom

 

Energy

 

Items

 

Consolidated

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

Wireless

 

$

28,392

 

$

23,148

 

$

 

$

 

$

51,540

 

Wireline

 

6,824

 

14,706

 

 

 

21,530

 

Equipment and Other

 

238

 

1,866

 

 

 

2,104

 

Total Revenue

 

35,454

 

39,720

 

 

 

75,174

 

Depreciation and amortization

 

4,443

 

6,921

 

 

616

 

11,980

 

Non-cash stock-based compensation

 

 

 

 

1,058

 

1,058

 

Operating income (loss)

 

12,515

 

9,061

 

 

(5,328

)

16,248

 

 



 

For the Three Months Ended June 30, 2014

 

 

 

U.S.

 

International

 

Renewable

 

Reconciling

 

 

 

 

 

Telecom

 

Telecom

 

Energy

 

Items

 

Consolidated

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

Wireless

 

$

37,456

 

$

22,422

 

$

 

$

 

$

59,878

 

Wireline

 

6,838

 

14,445

 

 

 

21,283

 

Equipment and Other

 

273

 

1,835

 

 

 

2,108

 

Total Revenue

 

44,567

 

38,702

 

 

 

83,269

 

Depreciation and amortization

 

4,639

 

7,007

 

 

1,284

 

12,930

 

Non-cash stock-based compensation

 

 

 

 

1,323

 

1,323

 

Operating income (loss)

 

21,685

 

7,146

 

 

(7,224

)

21,607

 

 

For the Three Months Ended September 30, 2014

 

 

 

U.S.

 

International

 

Renewable

 

Reconciling

 

 

 

 

 

Telecom

 

Telecom

 

Energy

 

Items

 

Consolidated

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

Wireless

 

$

44,306

 

$

21,557

 

$

 

$

 

$

65,863

 

Wireline

 

6,282

 

15,249

 

 

 

21,531

 

Equipment and Other

 

347

 

1,652

 

 

 

1,999

 

Total Revenue

 

50,935

 

38,458

 

 

 

89,393

 

Depreciation and amortization

 

4,850

 

6,993

 

 

999

 

12,842

 

Non-cash stock-based compensation

 

 

 

 

1,002

 

1,002

 

Operating income (loss)

 

27,114

 

7,296

 

 

(6,252

)

28,158

 

 

For the Three Months Ended December 31, 2014

 

 

 

U.S.

 

International

 

Renewable

 

Reconciling

 

 

 

 

 

Telecom

 

Telecom

 

Energy

 

Items

 

Consolidated

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

Wireless

 

$

42,886

 

$

21,523

 

$

 

$

 

$

64,409

 

Wireline

 

6,211

 

14,729

 

 

 

20,940

 

Equipment and Other

 

338

 

2,375

 

449

 

 

3,162

 

Total Revenue

 

49,435

 

38,627

 

449

 

 

88,511

 

Depreciation and amortization

 

5,138

 

7,158

 

105

 

1,081

 

13,482

 

Non-cash stock-based compensation

 

 

 

 

940

 

940

 

Operating income (loss)

 

24,205

 

5,171

 

(2,218

)

(7,595

)

19,563

 

 



 

For the Three Months Ended March 31, 2015

 

 

 

U.S.

 

International

 

Renewable

 

Reconciling

 

 

 

 

 

Telecom

 

Telecom

 

Energy

 

Items

 

Consolidated

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

Wireless

 

$

35,843

 

$

21,172

 

$

 

$

 

$

57,015

 

Wireline

 

5,993

 

14,600

 

 

 

20,593

 

Renewable energy

 

 

 

5,289

 

 

5,289

 

Equipment and Other

 

540

 

1,901

 

 

 

2,441

 

Total Revenue

 

42,376

 

37,673

 

5,289

 

 

85,338

 

Depreciation and amortization

 

5,503

 

6,911

 

1,204

 

1,133

 

14,751

 

Non-cash stock-based compensation

 

 

 

181

 

1,043

 

1,224

 

Operating income (loss)

 

16,775

 

6,179

 

2,652

 

(6,455

)

19,151

 

 

For the Three Months Ended June 30, 2015

 

 

 

U.S.

 

International

 

Renewable

 

Reconciling

 

 

 

 

 

Telecom

 

Telecom

 

Energy

 

Items

 

Consolidated

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

Wireless

 

$

40,103

 

$

20,223

 

$

 

$

 

$

60,326

 

Wireline

 

6,679

 

15,410

 

 

 

22,089

 

Renewable energy

 

 

 

5,290

 

 

5,290

 

Equipment and Other

 

698

 

1,923

 

 

 

2,621

 

Total Revenue

 

47,480

 

37,556

 

5,290

 

 

90,326

 

Depreciation and amortization

 

5,657

 

6,399

 

1,204

 

1,212

 

14,472

 

Non-cash stock-based compensation

 

 

 

29

 

1,424

 

1,453

 

Operating income (loss)

 

23,122

 

10,332

 

2,691

 

(7,413

)

28,732

 

 

For the Three Months Ended September 30, 2015

 

 

 

U.S.

 

International

 

Renewable

 

Reconciling

 

 

 

 

 

Telecom

 

Telecom

 

Energy

 

Items

 

Consolidated

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

Wireless

 

$

47,047

 

$

20,392

 

$

 

$

 

$

67,439

 

Wireline

 

6,243

 

15,572

 

 

 

21,815

 

Renewable energy

 

 

 

5,052

 

 

5,052

 

Equipment and Other

 

535

 

1,941

 

 

 

2,476

 

Total Revenue

 

53,825

 

37,905

 

5,052

 

 

96,782

 

Depreciation and amortization

 

5,715

 

6,400

 

1,205

 

1,270

 

14,590

 

Non-cash stock-based compensation

 

 

 

29

 

1,126

 

1,155

 

Operating income (loss)

 

24,218

 

4,928

 

2,694

 

(9,316

)

22,524

 

 



 

For the Three Months Ended December 31, 2015

 

 

 

U.S.

 

International

 

Renewable

 

Reconciling

 

 

 

 

 

Telecom

 

Telecom

 

Energy

 

Items

 

Consolidated

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

Wireless

 

$

32,397

 

$

19,865

 

$

 

$

 

$

52,262

 

Wireline

 

6,326

 

15,662

 

 

 

21,988

 

Renewable energy

 

 

 

5,409

 

 

5,409

 

Equipment and Other

 

582

 

2,682

 

 

 

3,264

 

Total Revenue

 

39,305

 

38,209

 

5,409

 

 

82,923

 

Depreciation and amortization

 

5,365

 

5,173

 

1,207

 

1,332

 

13,077

 

Non-cash stock-based compensation

 

 

 

28

 

1,115

 

1,143

 

Operating income (loss)

 

10,344

 

6,761

 

(1,317

)

(7,600

)

8,188

 

 

 

 

U.S.

 

International

 

Renewable

 

Reconciling

 

 

 

 

 

Telecom

 

Telecom

 

Energy

 

Items

 

Consolidated

 

December 31, 2014

 

 

 

 

 

 

 

 

 

 

 

Net fixed assets

 

$

108,023

 

$

135,562

 

$

111,342

 

$

14,655

 

$

369,582

 

Goodwill

 

39,639

 

5,438

 

 

 

45,077

 

Total assets

 

230,823

 

276,734

 

130,124

 

287,349

 

925,030

 

March 31, 2015

 

 

 

 

 

 

 

 

 

 

 

Net fixed assets

 

108,265

 

130,730

 

110,138

 

14,254

 

363,387

 

Goodwill

 

39,639

 

5,438

 

 

 

45,077

 

Total assets

 

238,087

 

266,963

 

126,585

 

293,148

 

924,783

 

June 30, 2015

 

 

 

 

 

 

 

 

 

 

 

Net fixed assets

 

111,621

 

127,878

 

108,945

 

13,988

 

362,432

 

Goodwill

 

39,639

 

5,438

 

 

 

45,077

 

Total assets

 

237,372

 

274,305

 

122,080

 

303,398

 

937,155

 

September 30, 2015

 

 

 

 

 

 

 

 

 

 

 

Net fixed assets

 

114,224

 

130,422

 

107,754

 

13,615

 

366,015

 

Goodwill

 

39,639

 

5,438

 

 

 

45,077

 

Total assets

 

238,702

 

280,944

 

122,667

 

304,145

 

946,458

 

December 31, 2015

 

 

 

 

 

 

 

 

 

 

 

Net fixed assets

 

119,596

 

133,262

 

106,560

 

14,085

 

373,503

 

Goodwill

 

39,639

 

5,438

 

 

 

45,077

 

Total assets

 

227,707

 

278,770

 

122,788

 

315,739

 

945,004

 

 



 

Capital Expenditures 2014

 

 

 

U.S.

 

International

 

Renewable

 

Reconciling

 

 

 

Three months ended

 

Telecom

 

Telecom

 

Energy

 

Items

 

Consolidated

 

March 31, 2014

 

$

5,767

 

$

2,542

 

$

 

$

427

 

$

8,736

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2014

 

10,054

 

5,488

 

 

826

 

16,368

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2014

 

13,000

 

2,752

 

 

843

 

16,595

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2014

 

9,305

 

5,928

 

 

1,368

 

16,601

 

 

Capital Expenditures 2015

 

 

 

U.S.

 

International

 

Renewable

 

Reconciling

 

 

 

Three months ended

 

Telecom

 

Telecom

 

Energy

 

Items

 

Consolidated

 

March 31, 2015

 

$

7,871

 

$

5,209

 

$

 

$

732

 

$

13,812

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2015

 

9,204

 

4,056

 

12

 

947

 

14,219

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2015

 

10,557

 

6,532

 

14

 

897

 

18,000

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2015

 

9,956

 

7,007

 

12

 

1,747

 

18,722