Last $14.49 USD
Change Today +0.27 / 1.90%
Volume 17.5K
FRP On Other Exchanges
Symbol
Exchange
Frankfurt
As of 2:06 PM 10/20/14 All times are local (Market data is delayed by at least 15 minutes).

fairpoint communications inc (FRP) Snapshot

Open
$14.10
Previous Close
$14.22
Day High
$14.63
Day Low
$14.10
52 Week High
08/20/14 - $16.91
52 Week Low
12/5/13 - $8.92
Market Cap
387.0M
Average Volume 10 Days
101.8K
EPS TTM
$-2.09
Shares Outstanding
26.7M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for FAIRPOINT COMMUNICATIONS INC (FRP)

fairpoint communications inc (FRP) Related Businessweek News

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fairpoint communications inc (FRP) Details

FairPoint Communications, Inc. provides data, voice, and communication services in the United States. It provides high capacity data services comprising optical, Ethernet, IP services, and Ethernet virtual circuit technology for cellular backhaul; and private line special access services, as well as hosted primary branch exchange services over its Ethernet network. The company also offers Internet services, including obtaining IP addresses, basic Website design and hosting, domain name services, content feeds, and Web-based e-mail services; and carrier Ethernet services to business and wholesale customers. In addition, it offers local calling services, such as basic local lines and local private lines; and long distance and wholesale long distance services to communications providers. Further, the company provides network transport services, including special access services, such as DS-1 and DS-3 services; and high speed digital services comprising Ethernet-based services provisioned over fiber and copper facilities, as well as network switched, intrastate, and intrastate access services. Additionally, it publishes telephone directories; and offers video services to its customers by reselling DirectTV content, as well as providing cable and IP television video-over-digital subscriber line. The company also provides value added and convenience-based services, including power utility offerings through a marketing arrangement, and conference calling services for business and residential customers; and project-based implementation support services. As of December 31, 2013, the company operated approximately 1.2 million access line equivalents in 17 states. It also owns and operates a fiber network with approximately 16,000 miles of fiber optic cable in Maine, New Hampshire, and Vermont. The company was incorporated in 1991 and is headquartered in Charlotte, North Carolina.

3,171 Employees
Last Reported Date: 03/5/14
Founded in 1991

fairpoint communications inc (FRP) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: $787.5K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $387.5K
Executive Vice President of Operations
Total Annual Compensation: $303.5K
Executive Vice President, General Counsel an...
Total Annual Compensation: $462.5K
Executive Vice President of External Affairs ...
Total Annual Compensation: $328.0K
Compensation as of Fiscal Year 2013.

fairpoint communications inc (FRP) Key Developments

Unions to Go on Strike Against FairPoint Communications

Two unions representing more than 1,700 FairPoint Communications workers in Maine, New Hampshire and Vermont announced they are going on strike early on October 17, 2014, days after the company froze their pensions. The unions have offered significant concessions but the company wasn't interested. The International Brotherhood of Electrical Workers and the Communication Workers of America announced the strike on October 17, 2014, just hours after union officials met with company negotiators in Boston in hopes of reopening negotiations. Workers planned to leave their jobs on October 17, 2014. The company, which contends the old contract was out of sync with industry norms, imposed its final contract offer in late August when it declared an impasse after months of negotiations dating back to April 2014. The new contract froze the old defined-benefit pension this week, replacing the plan with 401(k) plans going forward. It will also require workers to contribute to health care costs for the first time. Other provisions allow the company to hire contractors and eliminate retiree health care benefits for current workers. The unions contend that the company is trying to slash costs to make it attractive to prospective buyers and to provide promised dividends to shareholders. Accusing the company of failing to bargain in good faith, they have asked the National Labor Relations Board to order the company back to the negotiating table.

Fairpoint Communications, Inc. Implements its Final Proposals as Talks with its Northern New England Unions Remain Deadlocked

FairPoint Communications Inc. implemented its final proposals as talks with its northern New England unions remain deadlocked. The company claimed that the action is permitted by federal labor law when there is no meaningful prospect for a negotiated settlement. The company said that it implemented its proposals only because it sees no likelihood of an agreement given the unions' bargaining position.

Fairpoint Communications, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Fiscal 2014

Fairpoint Communications, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenues of $225,597,000 against $234,500,000 a year ago. Loss from operations was $9,567,000 against $41,871,000 a year ago. Loss before income taxes was $29,814,000 against $61,958,000 a year ago. Loss from continuing operations was $22,680,000 or $0.86 basic and diluted per share against $43,108,000 or $1.64 basic and diluted per share a year ago. Net loss was $22,680,000 or $0.86 basic and diluted per share against $43,108,000 or $1.64 basic and diluted per share a year ago. Adjusted EBITDA was $64.2 million compared to $66.4 million a year earlier. The decrease is due to lower revenue partially offset by operating cost savings. Capital expenditures were $34.9 million compared to $27.4 million a year earlier. The increase is primarily driven by the timing of project completion in the 2014 capital plan. The change was due primarily to lower operating expenses, including depreciation expense, offset by lower revenue and lower income tax benefit. Adjusted income from continuing operations, excluding depreciation, amortization and reorganization was $64,234,000 against $65,937,000 a year ago. For the six months, the company reported revenues of $456,154,000 against $469,969,000 a year ago. Loss from operations was $31,681,000 against $103,169,000 a year ago. Loss before income taxes was $71,721,000 against $147,620,000 a year ago. Loss from continuing operations was $54,917,000 or $2.08 basic and diluted per share against $100,637,000 or $3.84 basic and diluted per share a year ago. Net loss was $54,917,000 or $2.08 basic and diluted per share against $90,593,000 or $3.46 basic and diluted per share a year ago. Net cash provided by operating activities was $55,741,000 against $82,156,000 a year ago. Capital expenditures were $62,978,000 against $57,323,000 a year ago. Adjusted EBITDA was $128.41 million compared to $130.3 million a year earlier. Adjusted income from continuing operations, excluding depreciation, amortization and reorganization was $128,409,000 against $129,626,000 a year ago. The company provided earnings guidance for the fiscal 2014. The company expects to generate $100 million to $110 million of unlevered free cash flow. Unlevered free cash flow refers to adjusted EBITDA minus capital expenditures, pension contributions and cash payments for OPEB. In addition, for fiscal 2014, Adjusted EBITDA is expected to be approximately $260 million and capital expenditures are expected to be approximately $120 million. Aggregate cash pension contributions and cash OPEB payments are expected to be approximately $35 million.

 

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