International operations add to their appeal

Article Excerpt

ATLANTIC TELE-NETWORK $54 (Nasdaq symbol ATNI; TSINetwork Rating: Speculative) (340- 777-8000; www.atni.com; Shares outstanding: 15.7 million; Market cap: $855.6 million; Yield: 1.9%) expects to soon complete the sale of its Alltel wireless business to AT&T (symbol T on New York) for cash of $780 million. In April 2010, Atlantic bought Alltel from Verizon Wireless for just $223 million. In the three months ended March 31, 2013, Atlantic’s revenue fell 5.6%, to $172.9 million from $183.1 million a year earlier. Alltel accounted for $108.0 million of revenue in the latest quarter, and slowed in the latest quarter. Earnings fell 5.8%, to $8.8 million, or $0.56 a share, from $9.3 million, or $0.60 a share. After the sale, Atlantic Tele-Network will still have telecom operations in the U.S. southwest, New England, New York State, Guyana, Bermuda and portions of the Caribbean islands. The company will also have a very large cash holding, which it could use to make acquisitions or expand its…