One Communications Release Unaudited Results

September 19, 2017

In a filing with the Bermuda Stock Exchange [BSX], One Communications Ltd, reported unaudited results for the six months ended June 30, 2017.

The filing stated:

Financial Highlights for the six months ended June 30, 2017:

  • Revenues: $63.4 million, $50.3 million in Bermuda and $13.1 million in Cayman
  • Operating income: $7.9 million
  • Earnings per share: $0.19

One Communications Ltd. today announced unaudited results for the six month period ended June 30, 2017. Operating income was $7.9 million and net income was $8.0 million. Earnings before interest, depreciation, amortization and one time charges for the period were $16.4 million.

Consolidated revenue for the period was $63.4 million and operating expenses were $55.5 million. Comprehensive income attributable to equity holders was $7.1 million for the period which includes a $0.1 million reclassification for a gain on sale of equity securities.

“We’re now just beginning to recognize the positive impact of our integration efforts and capital improvement investments in the last year, both in terms of our financial results and improved customer experience,” said Frank Amaral, Chief Executive Officer.

“We’ve also worked hard to increase value for our customers this past year, making substantial progress with both our FibreWire construction in Bermuda and our fibre deployment in Cayman.”

Earnings per share for the six months ended June 30, 2017 was $0.19.

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