Financial Highlights
2017 FQ3 YTD
9/30/2017
2016 FY
12/31/2016
2015 FY
12/31/2015
2014 FY
12/31/2014
2013 FY
12/31/2013
Balance Sheet ($000)
Cash and Cash Equivalents 43,582 33,575 13,267 14,140 14,114
Current Assets 73,399 100,505 131,509 64,749 93,788
Net PP&E 534,940 536,288 498,944 429,451 378,723
Total Intangible Assets 143,759 108,800 111,375 116,181 125,368
Total Assets 759,014 753,372 745,372 611,807 606,300
Short-term and Current Long-term Debt 73,825 13,530 10,400 10,227 6,688
Current Liabilities 112,874 47,286 48,503 58,022 46,909
Non-current Long-term Debt 388,027 454,885 456,300 357,950 373,290
Total Liabilities 618,220 617,312 613,041 518,348 519,294
Total Mezzanine Level Items 0 0 0 0 0
Equity Attributable to Parent Company 139,869 135,174 131,392 92,677 86,333
Total Equity 140,794 136,060 132,331 93,459 87,006
Total Capitalization, at Book Value 602,646 604,475 599,031 461,636 466,984
Income Statement ($000)
Communications Service Revenue 166,892 206,899 204,269 201,456 207,475
Operating Revenue, Net 166,892 206,899 204,269 201,456 207,475
Cost of Revenue 30,978 38,973 42,205 42,978 42,417
Reported Net Operating Income 15,070 29,614 36,468 50,476 45,835
Recurring EBIT 15,180 32,880 37,245 50,838 45,989
Recurring EBITDA 58,820 84,159 84,772 96,050 88,309
Net Income before Taxes (7,039) 1,618 17,329 36,057 29,913
Net Income before Extra (5,201) (344) 10,183 21,648 17,894
Net Income (5,201) (344) 10,183 21,648 17,894
Net Income Attributable to Parent (5,240) (523) 10,026 21,528 17,773
Cash Flow Statement Highlights ($000)
Cash Flow from Operating Activities 54,333 65,376 66,745 79,809 74,254
Cash Flow from Investing Activities (32,340) (33,379) (182,485) (63,433) (104,903)
Cash Flow from Financing Activities (11,986) (11,689) 114,867 (16,350) 44,761
Effect of Exchange Rate Fluctuations 0 0 0 0 0
Other Cash Flow 0 0 0 0 0
Net Increase in Cash and Cash Equivalents 10,007 20,308 (873) 26 14,112
Recurring Levered Free Cash Flow 2,651 (24,136) (47,213) (576) 5,727
Balance Sheet Ratios (%)
Debt/ Book Capitalization 76.64 77.49 77.91 79.75 81.37
Total Debt/ Total Equity(x) 3.28 3.44 3.53 3.94 4.37
Total Equity/ Total Assets 18.55 18.06 17.75 15.28 14.35
Debt plus Rdm Pfd/ Equity(x) 3.28 3.44 3.53 3.94 4.37
Long-term Debt/ Book Capital 64.39 75.25 76.17 77.54 79.94
Debt & Redeemable Preferred/ Book Capital 76.64 77.49 77.91 79.75 81.37
Net Debt and Preferred/ Recurring EBITDA(x) 5.53 5.17 4.67 3.78 3.66
Income and Cash Flow Statement Ratios (%)
Operating Revenue Growth 7.66 1.29 1.40 (2.90) 0.29
Recurring EBITDA Growth (4.61) (0.72) (11.74) 8.77 9.23
Recurring Levered FCF Growth NM NM NM NM (19.39)
Net Income Growth NM NM (52.96) 20.98 8.79
EPS Growth, before Extraordinary NM NM (54.70) 18.80 5.30
EPS after Extra Growth NM NM (54.70) 18.80 5.30
Dividend Payout Ratio NM NM 0 58.95 70
Div/ Recurring LFCF 0 NM NM NM NM
Profitability Ratios (%)
ROAA (0.92) (0.05) 1.49 3.54 3.16
ROAE (5) (0.25) 9.23 23.18 24.39
ROACE (5.07) (0.39) 9.16 23.23 24.44
Return on Invested Capital 3.35 5.36 6.87 10.96 10.50
Recurring EBITDA Margin 35.24 40.68 41.50 47.68 42.56
Recurring Levered FCF Margin 1.59 (11.67) (23.11) (0.29) 2.76
Recurring Levered Free Cash Flow/ Recurring EBITDA 4.51 NM NM NM 6.49
Liquidity Ratios (x)
Recurring EBITDA/ Interest Expense plus Pfd 2.58 2.96 4.26 6.17 6.22
Recurring Unlevered FCF/ Interest Expense 0.96 (0.01) (1.59) 0.81 1.34
Cash Interest Coverage 3.39 3.30 4.35 6.12 6.23
Per Share Information ($)
Common Shares Outstanding(actual) 23,936,000 23,605,000 22,992,780 22,544,924 22,108,570
Avg Diluted Shares(actual) 22,920,000 22,557,000 22,309,000 22,110,000 21,676,000
Basic Book Value per Share 5.84 5.73 5.71 4.11 3.90
Common Dividends Declared per Share 0 0 0 0.56 0.56
Basic EPS before Extra (0.23) (0.02) 0.44 0.97 0.81
Basic EPS after Extra (0.23) (0.02) 0.44 0.97 0.81
Diluted EPS before Extra (0.23) (0.02) 0.43 0.95 0.80
Diluted EPS after Extraordinary (0.23) (0.02) 0.43 0.95 0.80
Recurring Levered FCF per Share 0.12 (0.92) (2.02) (0.03) 0.26
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