hawaiian telcom holdco inc
(HCOM:NASDAQ GS)
hawaiian telcom holdco inc (HCOM) Key Developments
Hawaiian Telcom Holdco, Inc. announced the closing of the refinancing of its existing senior secured credit facility. In connection with the refinancing, the company entered into a new $300 million senior secured credit facility maturing June 6, 2019. Pricing on the new term loan was set at LIBOR plus 4.00% with a LIBOR minimum of 1.00%, and sold at $99.5 per $100 of principal amount. The proceeds from the new $300 million term loan were used, along with $5 million of existing cash, to pay off the company's outstanding term loan, and to pay a prepayment penalty as well as closing costs and other third-party expenses related to the transaction. With respect to the new senior secured credit facility: Credit Suisse Securities (USA) LLC was Sole Lead Arranger and Sole Bookrunner for the refinancing. Credit Suisse AG, Cayman Islands Branch is the Administrative Agent and Collateral Agent for the Lenders.
Hawaiian Telcom Holdco, Inc. Presents at Stephens Spring Investment Conference, Jun-04-2013 04:00 PM. Venue: The New York Palace Hotel, New York, New York, United States.
Hawaiian Telcom Holdco, Inc. announced plans to seek to refinance its existing $300 million senior secured credit facility. The proposed amended and restated credit facility would be used to refinance and extend the maturity of the company's existing $300 million term loan, which matures February 28, 2017.
Hawaiian Telcom Holdco, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the period, the company reported operating revenues of $95,965,000 against $97,574,000 a year ago. Operating income was $8,585,000 against $11,161,000 a year ago. Income before income tax provision was $3,060,000 against $75,000 a year ago. Net income was $1,848,000 or $0.17 per diluted share against $207,000 or $0.02 per diluted share a year ago. Net cash provided by operating activities was $14,866,000 against $12,474,000 a year ago. Capital expenditures were $23,254,000 against $19,814,000 a year ago. EBITDA was $27,725,000 against $28,089,000 a year ago. Adjusted EBITDA was $29,170,000 against $28,592,000 a year ago. Total net debt as of March 31, 2013 was $237,535,000. The increase in net income was due primarily to a one-time $5.1 million loss on early extinguishment of debt in the first quarter of 2012 net of a $2.1 million increase in depreciation and amortization and a $1.2 million deferred tax provision in the first quarter of 2013. The company provided capital expenditure guidance for the year 2013. Overall, total capital expenditures for 2013 are expected to be approximately $80.0 million.
Hawaiian Telcom Holdco, Inc., Q1 2013 Earnings Call, May 06, 2013

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Industry Analysis
HCOM
Industry Average
| Valuation | HCOM | Industry Range |
| Price/Earnings | 2.5x |
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| Price/Sales | 0.7x |
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| Price/Book | 1.0x |
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| Price/Cash Flow | 1.4x |
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| TEV/Sales | NM | Not Meaningful |
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