Integra Finishes 2013 With Another EBITDA Boost

February 7th, 2013 by · Leave a Comment

Integra Telecom isn't public currently, but it lately hasn't been shy about posting its earnings numbers.  Yesterday they posted their preliminary Q4 results, giving us one of the first year-end data points for competitive fiber operators.  Total revenues held steady, with recurring revenues rising with the trend and adjusted EBITDA up strongly for the second straight quarter.  Here's a table of their recent results in context:

($ in millions) Q1/12 Q2/12 Q3/12 Q4/12
- Recurring revenues 129.3 130.2 130.7 131.5
- Non-recurring revenues 18.6 18.4 18.3 17.5
Total Revenue 147.9 148.6 149.0 149.0
M-EBITDA 42.2  43.0 44.9 46.7
M-EBITDA Margin 28.5% 28.9% 30.1% 31.3%
Capital Expenditures 25.7 26.3 24.5 22.8

Integra has been transitioning from a traditional copper-heavy SME CLEC stance to a fiber-rich approach aimed at larger enterprises plus some wholesale.  The last two quarters have each added 120 basis points to their EBITDA margins, taking them solidly over the 30% level, a threshold which definitely puts them in a different industry neighborhood than just a few years back.  As they finish that transition, organic revenue growth looks like a straightforward step.

Categories: Financials · Metro fiber

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