ATNI grows in the Caribbean

Article Excerpt

ATLANTIC TELE-NETWORK $79.45 (Nasdaq symbol ATNI; TSINetwork Rating: Speculative) (340-777-8000; www.atni.com; Shares outstanding: 16.4 million; Market cap: $1.3 billion; Dividend yield: 1.6%) is mainly focused on growing in the U.S., but it has just expanded further in the Caribbean. The company already has operations in Guyana, Bermuda and parts of the Caribbean islands. Atlantic Tele-Network just agreed to pay $145 million for the Innovative group of companies, which operate cable TV, Internet and land-line services, primarily in the U.S. Virgin Islands and St. Maarten. To put the acquisition in perspective, Innovative’s annual revenue is about $110 million. In the three months ended June 30, 2015, Atlantic’s revenue was $90.3 million, up 8.5%, from $83.3 million a year earlier. Atlantic Tele-Network is a hold. hold…