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Sep 30, 2023
Anterix Q2 2024 Earnings Report
Anterix reported second quarter fiscal year 2024 results.
Key Takeaways
Anterix reported its second quarter fiscal year 2024 results, including a gain on sale of intangible assets of $7.3 million and a gain on exchange of narrowband licenses for broadband licenses of $8.5 million. The company repurchased $10.7 million of ATEX stock and incurred spectrum clearing costs of $4.9 million.
Cash and cash equivalents totaled $48.5 million as of September 30, 2023.
San Diego County broadband license was transferred to San Diego Gas & Electric Company, resulting in a $7.3 million gain.
Narrowband licenses were exchanged for broadband licenses in 5 counties, yielding an $8.5 million gain.
$10.7 million of ATEX stock was repurchased.
Forward Guidance
The press release contains forward-looking statements that involve risks and uncertainties.
Challenges Ahead
- The timing of payments under customer agreements.
- Anterix’s ability to clear the 900 MHz Broadband Spectrum on a timely basis and on commercially reasonable terms.
- Anterix’s ability to qualify for and timely secure broadband licenses.
- Actual events or results may differ materially from those contemplated in this press release.
- Anterix undertakes no obligation to update publicly or revise any forward-looking statements contained herein.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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