Primus Telecommunications nearly doubles net income and declares special dividend
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Filing in Focus: Primus Telecommunications 10-Q, August 8, 2013
Primus Telecommunications Group International (PTGI) announced its financial results for the second quarter of fiscal 2013, reporting net income of $137.4M, up nearly double from this quarter last year of $69.9M. Earnings per share nearly doubled as well, from $4.97 to $9.83 per share. During this quarter, Primus completed the sale of BLACKIRON and North America Telecom, netting the company $135.0M and $126.0M respectively. Additionally, the company’s board of directors has approved a special dividend in the amount of $8.50 per share, payable to shareholders of record as of August 20, 2013. Neil Subin, the board’s chairman, remarked that the company is pleased to return value to its shareholders by declaring the special dividend.