ANCHORAGE, Alaska, Nov. 4, 2015 /PRNewswire/ -- General Communication, Inc. ("GCI") (NASDAQ: GNCMA) today reported its third quarter 2015 results.
Growth in broadband data subscribers and ARPU coupled with strong wireless roaming drove consolidated revenues for the third quarter of 2015 to $259 million, an increase of $18 million or seven percent when compared with the third quarter of 2014.
Adjusted EBITDA for the quarter was $97 million, growing $3 million or four percent compared with the third quarter of 2014. EBITDA for the quarter was negatively affected by $4 million in AWN-related transition costs and the absence of political advertising, which was particularly strong in the third quarter of 2014. On a comparative basis, quarterly EBITDA benefited from $8 million in equipment installment plan revenue versus $7 million in the second quarter of 2015 and none in 2014. As more customers take our equipment installment plans, we are seeing a reduction in ARPU which dampens the EBITDA benefit of equipment installment revenue.
"We are pleased with our strong quarter led by roaming and backhaul revenues of $45 million", said Ron Duncan, GCI's president and Chief Executive Officer. "We anticipate that this quarter will represent the high water mark of those revenues for the foreseeable future. We have been working with our largest carrier customers to offer them a competitive alternative that will reduce their rates, eliminate the seasonality in our revenues, and retain significant traffic on our network. If we're successful, we will have the majority of our roaming traffic on long-term contracts but cash receipts from roaming and backhaul could decrease by approximately 20 percent for 2016 as compared to 2015."
Full text and tables can be found at www.gci.com.
The company will hold a conference call to discuss the financial results on Thursday, November 5, at 2:00 p.m. (Eastern). To access the call, call the conference operator between 1:45-2:00 p.m. (Eastern) at 844-850-0551 (International callers should dial +1-412-902-4197) and identify your call as "GCI".
In addition to dial-up access, GCI will make available net conferencing. To access the call via net conference, log on to gci.com and follow the instructions.
A replay of the call will be available for 72-hours by dialing 877-344-7529, access code 10069357 (International callers should dial +1-412-317-0088).
Forward-Looking Statement Disclosure
The foregoing contains forward-looking statements regarding GCI's expected results that are based on management's expectations as well as on a number of assumptions concerning future events. Actual results might differ materially from those projected in the forward-looking statements due to uncertainties and other factors, many of which are outside GCI's control. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained in GCI's cautionary statement sections of Forms 10-K and 10-Q filed with the Securities and Exchange Commission.
GCI is the largest Alaska-based and operated, integrated telecommunications provider, offering wireless, voice, data, and video services statewide. Learn more about GCI at www.gci.com.