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ONE COMMUNICATIONS LTD. REPORTS UNAUDITED EARNINGS
Hamilton, Bermuda – September 18, 2017 — In a filing with the Bermuda Stock Exchange (“BSX”), One Communications Ltd., (the "Company"; Ticker: ONE.BH), reported unaudited results for the six months ended June 30, 2017. The filing stated:
Financial Highlights for the six months ended June 30, 2017:
- Revenues: $63.4 million, $50.3 million in Bermuda and $13.1 million in Cayman
- Operating income: $7.9 million
- Earnings per share: $0.19
September 18, 2017
One Communications Ltd. today announced unaudited results for the six month period ended June 30, 2017. Operating income was $7.9 million and net income was $8.0 million. Earnings before interest, depreciation, amortization and one time charges for the period were $16.4 million. Consolidated revenue for the period was $63.4 million and operating expenses were $55.5 million. Comprehensive income attributable to equity holders was $7.1 million for the period which includes a $0.1 million reclassification for a gain on sale of equity securities.
“We’re now just beginning to recognize the positive impact of our integration efforts and capital improvement investments in the last year, both in terms of our financial results and improved customer experience,” said Frank Amaral, Chief Executive Officer. “We’ve also worked hard to increase value for our customers this past year, making substantial progress with both our FibreWire construction in Bermuda and our fibre deployment in Cayman.”
Earnings per share for the six months ended June 30, 2017 was $0.19.
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Cautionary Language Concerning Forward Looking Statements
This press release contains forward-looking statements relating to, among other matters, future financial performance and results of operations; the competitive environment in key markets, demand for services and industry trends; the pace of network expansion and improvement; 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 and the Company undertakes no obligation and has no intention to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors that may affect such forward-looking statements.