Exhibit 99.1

Alaska Communications Reports Third Quarter 2019 Results

  • Revenue Exceeds $59 Million, Led by 7.8% Broadband Growth
  • Bill Bishop Appointed Permanent President & CEO, and Laurie Butcher Named CFO
  • Management Reaffirms 2019 Guidance

ANCHORAGE, Alaska--(BUSINESS WIRE)--November 6, 2019--Alaska Communications Systems Group, Inc. (NASDAQ: ALSK) today reported financial results for the third quarter of 2019.

“We are committed to superior service and network solutions that our customers require in Alaska and the markets we serve in the Lower 48. By emphasizing our customer centric approach, we expect to deliver sustainable long-term growth for our shareholders. For the third quarter, we are pleased to report that we grew total broadband revenue by 7.8% over last year. In addition, we grew net income 11.3% over last year and increased our Adjusted EBITDA margin to 26.7% for the quarter,” said Bill Bishop, President & CEO.

“We are making progress on our deployment of a 5G fiber backhaul network and are on track with provisioning the first route for our 100% prefunded project for one of our strategic customers. In mass market, we grew on-base multi-dwelling units (MDUs) by an additional 2,000 units and added our largest non-military MDU complex to date. We are very excited about our expansion projects and technical capabilities to stay on the forefront of requirements for our advanced products including, our broadband satellite offering, IP voice, and robust data and FiWi networks,” continued Mr. Bishop.

Third Quarter 2019 Compared to Third Quarter 2018

  • Total revenue was $59.1 million, compared to $58.2 million, up 1.5%.
    • Business and wholesale revenue was $38.7 million, compared to $36.4 million, up 6.3%.
    • Consumer revenue was steady at $9.3 million for both periods.
    • Regulatory revenue was $11.1 million, compared to $12.6 million, a decrease of 11.9%, as expected due to the restructuring of the Alaska Universal Service program.
  • Operating expenses were $53.4 million, compared to $52.5 million.
  • Operating income was $5.8 million for both periods.
  • Net income was $2.0 million, compared to $1.8 million.
  • Capital expenditures were $11.1 million, compared to $8.4 million, which includes planned investments to continue our 5G wireless backhaul project.
  • Adjusted EBITDA was $15.8 million, compared to $14.8 million.
  • Adjusted free cash flow was $6.3 million, compared to $4.3 million.
  • Cash was $26.7 million at September 30, 2019, compared to $15.0 million at December 31, 2018.
  • Net debt was $156.6 million at September 30, 2019, compared to $161.2 million at December 31, 2018.

Reconciliations of non-GAAP financial measures to GAAP financial measures can be found in tables at the end of this release and on the Company’s website at http://www.alsk.com in the investment data section.

“As expected, our strong sales funnel translated into significant revenue growth for the quarter in key areas, offsetting the anticipated decline in regulatory revenue. We are committed to maintaining tight financial controls, also contributing to increases in both Adjusted EBITDA and Adjusted Free Cash Flow. In the quarter, we completed a modest stock repurchase of one million shares at an average price of $1.81. Additionally, the Board determined that it was reasonable to discontinue the Section 382 tax preservation plan on October 18, 2019. We will continue to align with our shareholders and consider ways to pursue actions that return capital to shareholders, while staying committed to investing in high ROI projects,” says Laurie Butcher, Chief Financial Officer.


The following information was filed by Alaska Communications Systems Group Inc (ALSK) on Wednesday, November 6, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Alaska Communications Systems Group Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Alaska Communications Systems Group Inc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account