NTELOS CEO Hyde resigns, director Rodney Dir appointed COO NTELOS announced that its board has accepted the resignation of James A. Hyde as CEO, president and member of the board, effective immediately. The board also announced the immediate appointment of NTELOS Director Rodney D. Dir as president and COO. Michael A. Huber, chairman of the board, will oversee strategic relationships and external communications.
NTELOS sees FY15 adjusted EBITDA $100M-$108M Sees FY15 CapEx expected to be modestly less than adjusted EBITDA. The company says 2015 change driven by exit in East and SNA reset. Expected contribution from Western markets is unchanged. Pro Forma for FY15 cost savings run rate adjusted 2015 EBITDA would be $111M-$119M. FY15 inflows expected to exceed outflows.
NTELOS sees long term adjusted EBITDA margin of 30%-35% Sees long term adjusted EBITDA less CapEx margin of 20%. Cost rationalization reflecting Eastern Markets wind down will reduce annual expense by $20M. Expects to be achieved on a run rate basis by the end of 2015. Targets material market share improvements in the Western Markets. Comments taken from slides for December Investor Presentation