Alaska Communications Completes First Phase of Multi-Million Dollar, Pre-Funded Contract for Carrier Broadband Network in Ala...

Date : 11/19/2019 @ 1:55PM
Source : Business Wire
Stock : Alaska Communications Systems Group Inc (ALSK)
Quote : 1.69  0.0 (0.00%) @ 8:59AM

Alaska Communications Completes First Phase of Multi-Million Dollar, Pre-Funded Contract for Carrier Broadband Network in Ala...

Alaska Communications Sy... (NASDAQ:ALSK)
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Alaska Communications (NASDAQ: ALSK) has completed the first segment of the broadband network, reaching a critical milestone installing a pre-funded contract to build a high-capacity network in Alaska and provide network services to a major international telecommunications carrier and its customer.

The master agreement, executed in July 2019, includes provisioning of two secure broadband network routes scheduled for completion in early 2020 and service agreements for the next 10 years with the opportunity to extend for another 10 years. The company has received full payment for the completed route and has received the service order for the second route.

“We’re pleased with our customer approved milestones and look forward to completing the project early next year,” said William H. Bishop, Alaska Communications President and CEO. “We continue to win in the marketplace thanks to our proven ability to be a reliable, local, trustworthy network partner with a customer-first focus. Pre-funded projects yield significant upfront cash flows and long-term revenue streams. While meeting the broadband needs of carrier customers and their end-users, we enhance the Alaska Communications network at key locations that can be leveraged for other relationships. We welcome the opportunity to pursue similar relationships.”

About Alaska Communications

Alaska Communications (NASDAQ: ALSK) is the leading provider of advanced broadband and managed IT services for businesses and consumers in Alaska. The company operates a highly reliable, advanced statewide data network with the latest technology and the most diverse undersea fiber optic system connecting Alaska to the contiguous U.S. For more information, visit www.alaskacommunications.com or www.alsk.com.

Media Contact: Heather Marron, 907-564-1326 Investor Contact: Tiffany Smith, 907-564-7556 investors@acsalaska.com

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