ATLANTIC TELE-NETWORK $36.75 - Nasdaq symbol ATNI

ATLANTIC TELE-NETWORK $36.75 (Nasdaq symbol ATNI; TSINetwork Rating: Speculative) (340- 777-8000; www.atni.com; Shares outstanding: 15.6 million; Market cap: $573.3 million; Yield: 2.7%) reported strong earnings in the latest quarter, even though revenue declined.

In the three months ended September 30, 2012, Atlantic’s revenue fell 2.9%, to $188.8 million from $194.3 million a year earlier. However, earnings jumped 40.8%, to $16.0 million, or $1.03 a share, from $11.3 million, or $0.74 a share.

The company stands to make further gains as it sells more smartphones, which generate higher fees than regular cellphones. As well, it is upgrading its wireless networks to 4G long-term evolution (LTE) standards. LTE is up to five times faster than current networks, and should help it attract new subscribers.

Atlantic Tele-Network is still a buy.

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