Alaska Communications Systems Group Inc (NASDAQ:ALSK) has become the first company in Alaska to be awarded the Silver Cloud Productivity Competency by Microsoft Corporation (NASDAQ:MSFT). This puts the company in an improved position to meet the ever changing need of businesses in Alaska.
This competency gives Alaska Communications, the leading provider of broadband and IT solution in the state wider access to world-data centers, security from Microsoft. Chris Reaburn, Alaska’s Vice President in charge of Managed Services said the Silver Cloud Productivity Competency will enable the company be of more advantages to its customers by enabling them access Microsoft’s cloud solutions. He added that in addition to doing installations for customers, the company also work hand in hand with businesses to find solutions to challenges and increase potential in their products. With support from Microsoft, Alaska Communications will be in a much better position to achieve this.
As a requirement to be given the competency, Alaska Communications was tasked to demonstrate the level of its expertise through a comprehensive test as well as earning positive reviews and references from customers. According to Reaburn, the competency is a reflection of the company’s rich knowledge of the products and services offered by Microsoft. He added that the competency also reflects the company’s dedication and commitment in offering cloud services to Alaska businesses.
In other segments, Alaska Communications Systems has announced a decision by its board of directors to initiate a repurchase plan of its stock which will see the company buy back its shares worth $10 million. The authorization to repurchase, will allow the company to require nearly 116% of its stock through open market purchases. Stock repurchases are always done when the management is of belief that the company’s shares have been undervalued.
The company recently announced its first quarter results reporting earnings of $0.03 per share. The company had a net margin of 0.49% with return on equity of 0.71%. In the quarter, the company reported $57.79 million in revenue compared to $57 million that analysts had estimated. The company’s revenue in the quarter represents a 2% increase from what the company posted the first quarter of the previous financial year.