Stock Monitor: magicJack VocalTec Post Earnings Reporting
LONDON, UK / ACCESSWIRE / April 13, 2018 / Active-Investors.com has just released a free earnings report on Frontier Communications Corp. (NASDAQ: FTR). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=FTR. The Company posted its financial results on February 27, 2018, for the fourth quarter of the fiscal year 2017 (Q4 FY17) and for the full fiscal year 2017 (FY17). The Company witnessed an improvement in average monthly consumer revenue per customer and customer churn during the reported quarter. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for magicJack VocalTec Ltd (NASDAQ: CALL), which also belongs to the Technology sector as the Company Frontier Communications. Do not miss out and become a member today for free to access this upcoming report at:
www.active-investors.com/registration-sg/'symbol=CALL
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Frontier Communications most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=FTR
Earnings Highlights and Summary
During Q4 FY17, Frontier Communications reported revenues of $2.22 billion, which came in lower than the $2.41 billion recorded at the end of Q4 FY16. Meanwhile, the Company's quarterly total revenue numbers came in marginally above Wall Street's expectations of $2.21 billion.
The communications services Company's net loss attributable to common shareholders came in at $1.08 billion, or $13.91 loss per diluted common share, in Q4 FY17 compared to a net loss attributable to common shareholders of $133 million, or $1.73 loss per diluted common share, in the prior year's same quarter. The Company's adjusted net loss attributable to common shareholders was $46 million, or $0.59 loss per diluted share, in Q4 FY17 compared to an adjusted net loss attributable to common shareholders of $43 million, or $0.55 loss per diluted share, in Q4 FY16. Moreover, market analysts had expected the Company to report an adjusted net loss of $1.04 per diluted share for the reported quarter.
For the full year FY17, the Company's revenues came in at $9.13 billion, which came in above the $8.90 billion reported in FY16. The Company's net loss attributable to common shareholders widened to $2.02 billion, or $25.99 loss per diluted share, during FY17 from a net loss attributable to common shareholders of $587 million, or $7.61 loss per diluted share, in FY16. Additionally, the Company's adjusted net loss attributable to common shareholders stood at $295 million, or $3.79 loss per diluted share, in FY17 compared to an adjusted net loss attributable to common shareholders of $100 million, or $1.29 loss per diluted share, in FY16.
Operating Metrics
For Q4 FY17, Frontier Communications spent $3.97 billion on operating expenses, up from $2.15 billion in Q4 FY16. The Company posted an operating loss of $1.75 billion in Q4 FY17 versus an operating income of $255 million in Q4 FY16. For Q4 FY17, the Company's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) were $919 million, or 41.5% of revenues, versus $976 million, or 40.4% of revenues, reported in the year ago comparable quarter.
The Norwalk, Connecticut-based Company's average monthly consumer revenue per customer was $81.61 in Q4 FY17, up from $80.33 in Q4 FY16. The customer monthly churn also improved to 1.98% in Q4 FY17 from 2.08% in Q4 FY16.
Cash Flow and Balance Sheet
For the quarter ended December 31, 2017, Frontier Communications generated cash from operations of $665 million compared to $714 million in the previous year's corresponding quarter. For Q4 FY17, the Company's free cash flow came in at $228 million compared to $316 million in Q4 FY16.
The Company had cash, cash equivalents, and restricted cash of $376 million as on December 31, 2017, compared to $522 million at the close of books on December 31, 2016. Furthermore, the Company's long-term debt stood at $16.97 billion as on December 31, 2017, compared to $17.56 billion as on December 31, 2016.
Guidance
In its outlook for the full year FY18, Frontier Communications expects adjusted EBITDA to be approximately $3.6 billion. The Company forecasts capital expenditure to be between $1.0 billion and $1.15 billion, while operating free cash flow is anticipated to be approximately $800 million for the year ending December 31, 2018.
Stock Performance Snapshot
April 12, 2018 - At Thursday's closing bell, Frontier Communications' stock fell 8.57%, ending the trading session at $8.11.
Volume traded for the day: 3.86 million shares, which was above the 3-month average volume of 3.24 million shares.
Stock performance in the last month - up 3.58%; previous three-month period - up 9.15%; and year-to-date - up 19.97%
After yesterday's close, Frontier Communications' market cap was at $639.96 million.
The stock is part of the Technology sector, categorized under the Telecom Services - Domestic industry. This sector was up 0.9% at the end of the session.
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