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Hawaiian Telcom misses as revenues drop 8%

Published 08/08/2017, 03:05 PM
© Reuters.  Hawaiian Telcom misses as revenues drop 8%
HCOM
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  • Hawaiian Telcom (HCOM +0.4%) missed revenue expectations in its Q2 results as sales dropped, ahead of an acquisition by Cincinnati Bell.
  • Revenue fell more than 8% on a tough comp with year-ago one-time revenues from a large government agency, along with a decline in enterprise equipment sales and drops in its legacy voice and low-bandwidth Internet services.
  • EBITDA came to $26.4M, beating an expected $24M.
  • Revenue breakout: Business revenue, $41.7M (down 10.7%); Consumer revenue, $33.8M (down 6.1%); Wholesale revenue, $12.6M (down 4.5%).
  • Capex was $52.6M for the first six months, consistent with last year. It had $25.9M in cash and equivalents as of June 30.
  • Press Release
  • Now read: Cincinnati Bell Doubles Down On The Bull Case


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