ATN posts a big loss

Article Excerpt

ATN INTERNATIONAL $63.55 (Nasdaq symbol ATNI; TSINetwork Rating: Speculative) (340-777-8000; www.atni.com; Shares o/s: 16.1 million; Market cap: $1.0 billion; Dividend yield: 2.0%) lost $3.1 million, or $0.19 a share, in the three months ended June 30, 2016. It made $9.5 million, or $0.59 a year earlier. The loss includes one-time costs of $10.4 million to integrate its new solar plants in India. ATN also wrote down its U.S. telecom assets by $12.9 million. That reflects falling customer prices due to intense competition. The company holds $352.3 million, or $21.88 a share, in cash. This gives it lots of flexibility. But it still needs to prove it can successfully compete in both its telecom and renewable energy businesses. ATN International is a hold. hold…