QUOTE AND NEWS
The Economic Times  Jan 16  Comment 
"The CCEA has approved the FRP of sugarcane payable by sugar mills for the 2015-16 sugar season to be fixed at Rs 230 per quintal. This decision will ensure a guaranteed price to cane growers," an official statement said.
The Hindu Business Line  Jan 14  Comment 
The Maharashtra Government has decided to seek a bailout package from Union Finance Ministry for paying Fair and Remunerative Prices (FRP) to the sugarcane farmers in the State. The quantum of the...
The Economic Times  Jan 13  Comment 
Maharashtra Government has issued notices to 107 sugar factories who have not paid fair and remunerative price (FRP) to cane growers.
Benzinga  Dec 30  Comment 
FRP Holdings, Inc. (NASDAQ: FRPH) announced today that its board of directors has unanimously approved the strategic separation of its transportation business, known as Patriot Transportation Holding, Inc. ("New Patriot") from its real estate...
Benzinga  Dec 29  Comment 
FairPoint Communications, Inc. (Nasdaq: FRP), a leading communications provider, today announced it has reorganized its operational structure to allow for better focus on its operations. Steven G. Rush, a 35-year telecom industry veteran, was...
The Economic Times  Dec 17  Comment 
Despite the sale, only a handful of mills in the state have paid the mandatory fair and remunerative price (FRP) even after a month since the commencing of the sugar-producing season.
BBC News  Nov 7  Comment 
The Marussia Formula 1 team ceases trading and all staff will be made redundant, administrators FRP have announced.
The Hindu Business Line  Oct 4  Comment 
Public toilets in Hyderabad are set to get modern. Fibre reinforced plastic toilets are being put up in important locations in the city, as it gets spruced up to host the 11th Metropolis Worl...
Cloud Computing  Aug 27  Comment 
CHARLOTTE, N.C. , Aug. 27, 2014 /PRNewswire/ -- FairPoint Communications, Inc. (Nasdaq: FRP), a leading provider of advanced communications, today announced it will present at the Drexel Hamilton Telecom, Media and Technology Conference at the...




 
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Fairpoint is the eighth largest wireline telephone company in the United States, based on number of access lines as of September 30, 2008. It operates in 18 states with approximately 1.8 million access line equivalents (including voice access lines and high-speed data lines, which include DSL, fiber-to-the-premises, wireless broadband and cable modem) as of September 30, 2008.[1] It offers an array of services, including local and long distance voice, data, Internet and broadband product offerings to residential and business customers, primarily in northern New England.

Trends and Forces

Limited Competition

Fairpoint is one of a number of rural telecom carriers that operate primarily in markets exempt from direct wireline competition by federal law. While these rural local exchange carriers (RLECs) still face modest competition, generally coming from wireless carriers offering large buckets of minutes, customer retention has been stronger, and their total access-line counts have held up better than those of their Baby Bell brethren.

Line Substitution

RLECs have come under pressure as consumers swap traditional phone lines for wireless substitutes. Analysts have questioned whether these increased access line losses will affect the sustainability of revenue and free cash flow for RLECs. Additionally, extra competition has come in the form of cable companies that offer triple-play packages including voice services.

Industry Consolidation

Industry consolidation continues despite tough economic conditions - ex. CenturyTel's $11.6 billion offer for Embarq on Oct. 27, 2008.

Previously, Fairpoint purchased the northern New England operations of Verizon's wireline business. That transaction (estimated to add 1.5 million access lines, 180,000 DSL customers and 600,00 long distance telephone customers) closed on March 31, 2008.

Valuation

In a RLEC industry comparison, Stifel Nicolaus suggests EBITDA per access line is appropriate. [2]

Competition

Other RLECs




References

  1. http://www.sec.gov/Archives/edgar/data/1062613/000104746908011758/a2188918z10-q.htm 2008 Q3 10-q, page 32
  2. http://www.telecomassn.org/conferences/2004/summer/2008StifelRLECMonitor.pdf
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