ATN’s Bermuda revenue rises to $127.2m

ATN International, the telecoms company that has a controlling interest in One Communications Ltd, has reported full-year revenue from its Bermuda operations of $127.2m, that is up from $83m in 2016. The figures are in a year-end report filed with the US Securities and Exchange Commission.

The US-based company took a controlling stake in One Communications in 2016. Last month ATN reported full-year revenue of $481.2 million, or $2.71 per share, an increase of five per cent year-on-year. ATN said the net revenue increases were mostly due to the full-year impact of its acquisitions in Bermuda and US Virgin Islands during 2016. However, for the fourth quarter ATNís revenue was $107.7 million, down 16 per cent on the same period in 2016, after hurricane damage to Caribbean networks.

One Communications intends to issue its annual report on or before April 30.