ATN International, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>ATN International, Inc. has filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing its financial performance and operational status.</b>

AI Summary

ATN International, Inc. (ATNI) filed a Quarterly Report (10-Q) with the SEC on May 10, 2024. ATN International, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's principal executive offices are located at 500 Cummings Center, Beverly, MA. ATN International, Inc. was formerly known as Atlantic Tele Network Inc /DE. The SIC code for the company is 4813, Telephone Communications (No Radio Telephone).

Why It Matters

For investors and stakeholders tracking ATN International, Inc., this filing contains several important signals. This 10-Q filing provides investors and analysts with the latest financial data for ATN International, Inc., enabling them to assess the company's performance and make informed investment decisions. Understanding the details within this report is crucial for evaluating ATN International's financial health, operational efficiency, and future prospects in the telecommunications sector.

Risk Assessment

Risk Level: medium — ATN International, Inc. shows moderate risk based on this filing. The company's financial health and operational performance are subject to the inherent risks of the telecommunications industry, which can fluctuate based on market conditions, regulatory changes, and technological advancements. Specific financial figures and growth rates are not provided in this header data, necessitating a deeper review of the full filing.

Analyst Insight

Review the full 10-Q filing to analyze ATN International's revenue segments, net income, EPS, debt levels, and cash flow for Q1 2024 to assess its financial performance and identify potential investment opportunities or risks.

Key Numbers

• 20240331 — Period of Report (Quarterly report end date)
• 20240510 — Filed as of Date (Date the report was filed)
• 4813 — SIC Code (Standard Industrial Classification)
• DE — State of Incorporation (Company's incorporation state)
• 1231 — Fiscal Year End (Company's fiscal year end month and day)

Key Players & Entities

• ATN International, Inc. (company) — Filer name
• 0001558370-24-007776 (other) — Accession Number
• 20240331 (date) — Period of Report
• 20240510 (date) — Filed as of Date
• 500 CUMMINGS CENTER (other) — Business Address Street 1
• BEVERLY (other) — Business Address City
• MA (other) — Business Address State
• 01915 (other) — Business Address ZIP

FAQ

Industry Context

ATN International operates within the telecommunications industry, specifically focusing on telephone communications as indicated by its SIC code.

Regulatory Implications

The company is subject to regulations governing the telecommunications sector in the United States, as is standard for companies operating under SEC filings.

What Investors Should Do

1. Analyze the detailed financial statements within the 10-Q for revenue, net income, and cash flow.
2. Examine the Management's Discussion and Analysis (MD&A) section for insights into operational performance and future outlook.
3. Review any disclosed risk factors and legal proceedings to understand potential challenges facing the company.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q
• 2024-05-10: Filing Date — Date the 10-Q was officially filed with the SEC

Year-Over-Year Comparison

This is the initial header data for the 10-Q filing for the period ending March 31, 2024. Comparative data from a previous filing is not available in this extract.

Filing Documents

• atni-20240331x10q.htm (10-Q) — 2599KB
• atni-20240331xex31d1.htm (EX-31.1) — 17KB
• atni-20240331xex31d2.htm (EX-31.2) — 17KB
• atni-20240331xex32d1.htm (EX-32.1) — 9KB
• atni-20240331xex32d2.htm (EX-32.2) — 9KB
• 0001558370-24-007776.txt (&nbsp;) — 11910KB
• atni-20240331.xsd (EX-101.SCH) — 74KB
• atni-20240331_cal.xml (EX-101.CAL) — 86KB
• atni-20240331_def.xml (EX-101.DEF) — 315KB
• atni-20240331_lab.xml (EX-101.LAB) — 625KB
• atni-20240331_pre.xml (EX-101.PRE) — 451KB
• atni-20240331x10q_htm.xml (XML) — 2577KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION 4 Item 1 Unaudited Condensed Consolidated Financial Statements 4 Condensed Consolidated Balance Sheets at March 31, 2024 and December 31, 2023 4 Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2024 and 2023 5 Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three Months Ended March 31, 2024 and 2023 6 Condensed Consolidated Statements of Equity for the Three Months Ended March 31, 2024 and 2023 7 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 8 Notes to Unaudited Condensed Consolidated Financial Statements 9 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 36-57 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 57 Item 4

Controls and Procedures

Controls and Procedures 58

—OTHER INFORMATION

PART II—OTHER INFORMATION 58 Item 1

Legal Proceedings

Legal Proceedings 58 Item 1A

Risk Factors

Risk Factors 58 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 58 Item 5 Other Information 59 Item 6 Exhibits 60

SIGNATURES

SIGNATURES 61 CERTIFICATIONS 2 Table of Contents Cautionary Statement Regarding Forward-Looking Statements This Quarterly Report on Form 10-Q (or the "Report") contains forward-looking statements relating to, among other matters, our future financial performance and results of operations; the impact of federal support program revenues; expectations regarding future revenue, operating income, EBITDA and capital expenditures; the competitive environment in our key markets, demand for our services and industry trends; expectations regarding litigation; our liquidity; and management's plans and strategy for the future. These forward-looking statements are based on estimates, projections, beliefs, and assumptions and are not guarantees of future events or results. Actual future events and results could differ materially from the events and results indicated in these statements as a result of many factors, including, among others, (1) the general performance of our operations, including operating margins, revenues, capital expenditures, and the retention of and future growth of our subscriber base and ARPU; (2) our ability to replace and remove all prohibited mobile telecommunications equipment in our U.S. network on the timeframe and at the cost approved by the FCC; (3) our ability to satisfy the needs and demands of our major carrier customers; (4) government funding program availability and regulation of our businesses, which may impact our revenue, operating costs, and telecommunications licenses; (5) the adequacy and expansion capabilities of our network capacity and customer service system to support our customer growth; (6) our ability to efficiently and cost-effectively upgrade our networks and information technology platforms to address rapid and significant technological changes in the telecommunications industry; (7) continued access to capital and credit markets on terms we deem favorable; (8) our reliance on a limited number of key suppliers and vend

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Unaudited Condensed Consolidated Financial Statements

Item 1. Unaudited Condensed Consolidated Financial Statements ATN INTERNATIONAL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In Thousands, Except Share Data) March 31, December 31, 2024 2023 ASSETS Current Assets: Cash and cash equivalents $ 56,467 $ 49,225 Restricted cash 12,751 12,942 Short-term investments 300 300 Accounts receivable, net of allowances for credit losses of $ 16.9 million and $ 16.4 million, respectively 138,456 138,616 Customer receivable 7,506 7,249 Inventory, materials and supplies 16,207 19,133 Prepayments and other current assets 58,040 53,807 Total current assets 289,727 281,272 Fixed Assets, net 1,071,482 1,080,659 Telecommunication licenses, net 113,319 113,319 Goodwill 40,104 40,104 Intangible assets, net 17,685 19,585 Operating lease right-of-use assets 97,735 99,335 Customer receivable - long term 45,165 45,676 Other assets 103,937 103,764 Total assets $ 1,779,154 $ 1,783,714 LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY Current Liabilities: Current portion of long-term debt $ 20,476 $ 24,290 Current portion of customer receivable credit facility 7,569 7,110 Accounts payable and accrued liabilities 161,418 182,069 Dividends payable 3,757 3,701 Accrued taxes 11,642 10,876 Current portion of lease liabilities 15,674 15,164 Advance payments and deposits 53,081 49,984 Total current liabilities 273,617 293,194 Deferred income taxes 18,123 19,775 Lease liabilities, excluding current portion 74,856 76,936 Deferred revenue, long-term 61,611 64,035 Other liabilities 76,387 74,531 Customer receivable credit facility, net of current portion 40,408 38,943 Long-term debt, excluding current portion 520,815 492,580 Total liabilities 1,065,817 1,059,994 Redeemable noncontrolling interests: Preferred redeemable noncontrolling i

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View this 10-Q filing on SEC EDGAR