The company revenue was its best ever in a first quarter, and a sharp increase from the 2013 first quarter when it took in
"It was the best first quarter that we have ever had," said GCI Senior Vice President and Chief Financial Officer
GCI's stock was at
The company's adjusted EBITDA, or earnings before interest, taxes, depreciation and amortization was
That's a 28 percent increase compared to the prior year, and a 10 percent increase compared to the prior quarter.
The increase over the first quarter of 2013 is attributable to the AWN deal, which merged the
Pounds said that the sequential increases were in part the result of a regular seasonal shift: lower subsidies for wireless handsets in the first quarter compared to the fourth quarter.
Pounds said the company also showed strong performance in other areas.
GCI added 1,100 cable modem subscribers, and 1,000 new wireless customers, Pounds said.
That was attributed partially to speed increases for internet customers, and the build out of the TERRA network, which added new fiber-optic cable throughout much of Southwest and
The TERRA work is continuing, and Pounds said the company plans to reach
GCI launched its fastest data service, long-term evolution, or LTE, in
The company also received a preliminary award from the
The upgrades are "being welcomed by our customers," Pounds said, noting that the company has also increased its Turbozone wi-fi, and now has one hotspot for every 400 people in the state.
The company also reversed the trend of losing video subscribers, he said, in part because it began bundling its cable package with
The first quarter of 2014 was also GCI's first full quarter with ownership of new television stations, including
Not all metrics performed as well.
Business services revenues were
According to the company, that decrease was driven by a decline in voice products and professional services; data transport/storage, video and wireless demands grew.
AWN challenges persist
GCI and ACS are also still working out bumps in the new Alaska Wireless Network.
According to GCI counsel
In the meantime, however, ACS continues to pay AWN for services, Pidgeon said during the
The two companies are also still working on integrating their networks.
Customers have access to networks that are working well, according to GCI, but there's work left rationalizing the cell sites so there are fewer duplicative sites.
That will likely take one to two years, and the networks want to maintain customer experience and the ability to take on roaming traffic.
Pounds said GCI is also evaluating the handset subsidies that are available under AWN, and did not accept any in the fourth quarter of 2013 or first quarter of 2014. The company plans to use them by the end of the year, once it can figure out a better tracking system, Pounds said.
GCI plans shareholder meeting
GCI also announced
The business meeting will include election of three individuals to the company's board of directors, and then GCI President
The meeting will be held at the
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