8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORTPursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 1, 2012

ALASKA COMMUNICATIONS SYSTEMS GROUP, INC.
(Exact name of registrant as specified in its charter)

Delaware	000-28167	52-2126573
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

600 Telephone Avenue, Anchorage, Alaska	99503
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code 907 - 297 - 3000

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

⃞ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

⃞ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

⃞ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02     Results of Operations and Financial Condition.

On March 1, 2012, Alaska Communications Systems Group, Inc. (the “Company”) reported its financial results for the fiscal year ended December 31, 2011.  The press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.  A presentation of supplemental information reviewed on the Company’s earnings call is attached as Exhibit 99.2 and incorporated herein by reference.

Pursuant to General Instruction B.2 of Form 8-K, the information in this Item 2.02 is being furnished to the Securities and Exchange Commission and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section. Furthermore, the information in this Item 2.02 shall not be deemed to be incorporated by reference into the filings of the Corporation under the Securities Act of 1933.

Item 9.01   Financial Statements and Exhibits

Exhibit No.	Description
Exhibit 99.1	Alaska Communications Systems Group, Inc. Press Release dated March 1, 2012.
Exhibit 99.2	Presentation of Supplemental Information for earnings release conference call.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date:   March 1, 2012	Alaska Communications Systems Group, Inc.
	/s/ Leonard A. Steinberg
	Leonard A. Steinberg
	Corporate Secretary

EX-99.1

Exhibit 99.1

Alaska Communications Systems Reports Fourth Quarter 2011 Results

- Positive Net Income and $125.5 million EBITDA for the year -

- Wireless Net Adds positive for the third consecutive quarter -

-Enterprise Revenue increased over 8% Compared to Prior Year -

- 4G LTE network is in testing phase, with launch scheduled in the first half of 2012 -

- Execution on long term plan to drive growth and free cash flow -

ANCHORAGE, Alaska--(BUSINESS WIRE)--March 1, 2012--Alaska Communications Systems Group, Inc. (“ACS”) (NASDAQ: ALSK) today reported financial results for its fourth quarter ended December 31, 2011.

“Our performance for the quarter and full year 2011 was solid. Execution discipline as demonstrated by our 2011 results has been and will remain an important theme as we implement our business plan,” said Anand Vadapalli, ACS president and chief executive officer. “During this past year, we provided updates on two external events – competitive with the proposed entry of a new wireless competitor, and regulatory with the new FCC universal service funding reform. Our business plan provides a path to address both of these external events; by positioning us to grow retail revenues and market share in Alaska, as well as de-levering our balance sheet. The basis of our business plan is our affirmative assessment of the growth potential and our position in the Alaska telecom market. We anticipate growing market share and retail revenues and driving free cash flow based on the following assessment:

1. We have a valuable asset mix of products and services and a differentiated broadband network. The focus of service delivery on this network has been Enterprise and Wireless customers. We will leverage this network to provide broadband solutions to three key customer segments – Enterprise, Small & Medium Business (SMB) and Consumer. Focus on these previously underserved customer segments will present growth opportunities for ACS.

2. In addition to growing our top line, we will improve customer retention by investing in customer service, as the economics of retaining a customer always prevail over the cost of adding a customer.

3. We will relentlessly simplify how we conduct business to drive free cash flow performance. We believe there are continued opportunities to manage costs, and we will invest in experienced process improvement teams and information technology systems upgrades to achieve these benefits.

Our business plan also addresses our balance sheet. Free cash flow will be used to reduce debt over the next three years. The combination of investing in growth, improved service, and simplification while de-levering will drive our financial performance and build on our track record of success,” concluded Vadapalli.

Financial Highlights: Fourth Quarter 2011 Compared to Fourth Quarter 2010

• Revenues of $87.5 million increased by $2.7 million, or 3.2 percent, from $84.8 million in the prior year.
  • Enterprise revenue increased by $1.1 million, or 8.1 percent, with data products representing more than 90 percent of our revenues.
  • Wireless revenue increased by $1.6 million, or 4.6 percent, with higher wholesale and roaming revenue of $2.0 million offset by a decrease of $0.4 million in retail service and equipment revenue.
  • Retail and access wireline revenue was relatively unchanged, with declines in retail revenue offset by higher intrastate access revenues.
• EBITDA of $30.3 million was slightly below prior year of $30.5 million.
  • Wireless EBITDA increased by $1.9 million, or 14.2 percent, to $15.4 million. Revenue growth and lower equipment subsidies resulted in the improvement.
  • Wireline EBITDA declined by $2.1 million, or 12.4 percent, to $14.9 million. Increases in access charges and leased circuits accounted for the decrease.

Metric Highlights: Fourth Quarter 2011 Compared to Third Quarter 2011

• Wireless connections increased to 117,559, representing the third sequential quarter of positive net adds.
• Wireless average monthly retail service revenue per connection (ARPU) increased by 1.4 percent to $53.54.
• Wireless churn of 2.2 percent improved from 2.4 percent.
• Internet subscribers decreased by 756 to 47,618 and ARPU increased by 2.0 percent to $45.92.
• Retail access lines declined by 2,479 to 147,361 and ARPU decreased by 0.4 percent to $18.18.

“Alaska Communications exited the quarter with total cash of $20.5 million and with full access to our $30.0 million revolver facility. For the twelve months ended December 31, 2011 we generated free cash flow of $43.4 million,” said Wayne Graham, ACS chief financial officer.

2012 Business Outlook

ACS provides guidance for 2012 as follows:

• Revenues will be $355 - $365 million in 2012;
• EBITDA will modestly increase from $125 million in 2011;
• Total capital expenditures will be $55 - $60 million; and
• Free cash flow will be approximately $32 -$36 million.

Conference Call

The Company will host a conference call and live webcast today at 5:00 p.m. Eastern Time. Parties in the United States and Canada can call 877-941-0844 to access the conference call. Parties outside the United States and Canada can access the call at 480-629-9835. The live webcast of the conference call will be accessible from the "Events Calendar" section of the Company's website (www.alsk.com). Also available for the call will be a presentation that will describe the elements of our business plan. The webcast will be archived for a period of 90 days. A telephonic replay of the conference call will also be available two hours after the call and will run until Thursday, March 8, 2012 at midnight ET. To hear the replay, parties in the United States and Canada can call 800-406-7325 and enter pass code 4509940. Parties outside the United States and Canada can call 303-590-3030 and enter pass code 4509940.

Conference Call Presentation

A presentation corresponding with the conference call will be available at alsk.com in the “Events” section.

About Alaska Communications

Headquartered in Anchorage, Alaska Communications Systems Group, Inc. (Nasdaq: ALSK), through its subsidiaries, is a leading provider of high-speed wireless, mobile broadband, Internet, local, long-distance and advanced data solutions for businesses and consumers in Alaska. The Alaska Communications network includes the most advanced wireline and wireless data and voice networks and the most diverse undersea fiber optic system connecting Alaska to the contiguous United States. For more information, visit www.alaskacommunications.com or www.alsk.com.

Forward-Looking Guidance

This press release includes information related to management's estimate of EBITDA and Free Cash Flow (FCF) for the year ending December 31, 2012. EBITDA and FCF, as defined by the Company, may not be similar to EBITDA and FCF measures used by other companies are not measurements under generally accepted accounting principles (GAAP), and should not be a considered a substitute for other measures of financial performance recorded in accordance with GAAP. Management believes that EBITDA provides useful information to investors about the Company's performance because it eliminates the effects of period-to-period changes in costs associated with capital investments, interest and stock-based compensation expense that are not directly attributable to the underlying performance of the Company's business operations. Similarly, FCF provides useful information about the ability of the Company to pay dividends and reduce its outstanding indebtedness. Due to the difficulty in forecasting and quantifying the amounts that would be required to be included in the most comparable GAAP measure, “net cash provided by operating activities” the Company is not providing an estimate of the year-end 2012 amount for that measure.

Forward-Looking Statements

This press release includes certain "forward-looking statements," as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's beliefs as well as on a number of assumptions concerning future events made using information currently available to management. Readers are cautioned not to put undue reliance on such forward-looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside ACS' control. Such factors include, without limitation, Verizon’s entry into the Alaska market, Universal Service Fund reforms, the outcome of on-going IRS audits, adverse national economic conditions, adverse conditions in the credit markets impacting the cost, including interest rates, and/or availability of financing, adverse local economic conditions, including an unexpected downturn in the Alaskan oil and gas or tourism markets, changes in capital expenditures, the effects of competition in our markets, the entry of one or more additional facilities-based carriers into the Alaska market, or other factors affecting the Company's ability to generate sufficient earnings and cash flows to continue to make dividend payments to its stockholders; the Company’s ability to complete, manage, integrate, market, maintain, and attract sufficient customers to the products and services it may derive, adverse changes in labor matters, including workforce levels, labor negotiations, and benefits costs; disruption of our suppliers' provisioning of critical products or services; the impact of natural or man-made disasters; changes in Company's relationships with large carrier or enterprise customers or its roaming partners; changes in revenue from universal service funds; unforeseen changes in public policies; changes in accounting policies, including the Company’s application of regulatory accounting rules, which could result in an impact on earnings; or disruptive technological developments in the telecommunications industry. For further information regarding risks and uncertainties associated with ACS' business, please refer to the Company's SEC filings, including, but not limited to, the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our annual report on Form 10-K and quarterly reports on Form 10-Q. Copies of the Company's SEC filings may be obtained by contacting its investor relations department at (907) 564-7556 or by visiting its investor relations website at www.alsk.com.

										Schedule 1
ALASKA COMMUNICATIONS SYSTEMS GROUP, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited, In Thousands, Except Per Share Amounts)
	Three Months Ended						Twelve Months Ended
	December 31,						December 31,
		2011			2010			2011			2010
Total operating revenues	$	87,472		$	84,777		$	349,314		$	341,524
Operating expenses:
Cost of services and sales		34,852			33,239			135,732			130,862
Selling, general & administrative		23,577			22,542			91,962			88,564
Depreciation and amortization		15,049			16,104			58,559			72,078
(Gain) loss on disposal of assets, net		25			3,325			(565	)		2,846
Total operating expenses		73,503			75,210			285,688			294,350
Operating income		13,969			9,567			63,626			47,174
Other income and expense:
Interest expense		(9,456	)		(9,445	)		(38,271	)		(34,754	)
Loss on extinguishment of debt		-			(2,081	)		(13,445	)		(13,339	)
Interest income		8			52			34			83
Other		-			-			174			-
Total other income and expense		(9,448	)		(11,474	)		(51,508	)		(48,010	)
Income (loss) before income tax benefit (expense)		4,521			(1,907	)		12,118			(836	)
Income tax benefit (expense)		(2,277	)		640			(11,646	)		(29,852	)
Net income (loss)	$	2,244		$	(1,267	)	$	472		$	(30,688	)
Net income (loss) per share
Basic and diluted
Net income (loss)	$	0.05		$	(0.03	)	$	0.01		$	(0.69	)
Weighted average shares outstanding
Basic		45,229			44,662			45,103			44,589
Diluted		45,485			44,662			45,417			44,589

				Schedule 2
ALASKA COMMUNICATIONS SYSTEMS GROUP, INC.
CONSOLIDATED BALANCE SHEETS
(Unaudited, In Thousands Except Per Share Amounts)
	December 31,			December 31,
Assets		2011			2010
Current assets:
Cash and cash equivalents	$	20,490		$	15,316
Restricted cash		4,956			4,912
Accounts receivable-trade, net of allowance of $5,788 and $6,616		36,986			36,985
Materials and supplies		5,412			6,533
Prepayments and other current assets		4,920			3,999
Deferred income taxes		6,596			10,949
Total current assets		79,360			78,694
Property, plant and equipment		1,428,597			1,416,718
Less: accumulated depreciation and amortization		(1,023,360	)		(1,005,736	)
Property, plant and equipment, net		405,237			410,982
Non-current investments		-			355
Goodwill		8,850			8,850
Intangible assets, net		24,118			24,118
Debt issuance costs		9,515			8,584
Deferred income taxes		72,814			76,813
Equity method investment		2,060			2,060
Other assets		3,154			10,159
Total assets	$	605,108		$	620,615
Liabilities and Stockholders' Equity (Deficit)
Current liabilities:
Current portion of long-term obligations	$	30,930		$	5,213
Accounts payable, accrued and other current liabilities		48,919			62,539
Advance billings and customer deposits		9,218			9,568
Total current liabilities		89,067			77,320
Long-term obligations, net of current portion		538,624			548,096
Other long-term liabilities		28,340			15,688
Total liabilities		656,031			641,104
Commitments and contingencies
Stockholders' equity (deficit):
Common stock, $.01 par value; 145,000 authorized		453			447
Additional paid in capital		144,631			166,259
Accumulated deficit		(187,688	)		(188,160	)
Accumulated other comprehensive income (loss)		(8,319	)		965
Total stockholders' deficit		(50,923	)		(20,489	)
Total liabilities and stockholders' equity (deficit)	$	605,108		$	620,615

										Schedule 3
ALASKA COMMUNICATIONS SYSTEMS GROUP, INC.
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, In Thousands)
	Three Months Ended						Twelve Months Ended
	December 31,						December 31,
		2011			2010			2011			2010
Cash Flows from Operating Activities:
Net income (loss)	$	2,244		$	(1,267	)	$	472		$	(30,688	)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization		15,049			16,104			58,559			72,078
Settlement of interest rate swap liability		-			(11,145	)		-			-
Amortization of debt issuance costs and debt discount		1,400			4,094			12,907			9,674
Stock-based compensation		1,268			1,324			3,888			3,989
Deferred income taxes		2,911			(639	)		11,646			32,633
Provision for uncollectible accounts		865			555			2,333			2,863
Other non-cash (income) expenses		183			3,398			(109	)		3,595
Changes in operating assets and liabilities		(2,390	)		4,489			(10,615	)		(7,777	)
Net cash provided by operating activities		21,530			16,913			79,081			86,367
Cash Flows from Investing Activities:
Capital expenditures		(18,698	)		(13,296	)		(52,161	)		(38,336	)
Change in unsettled capital expenditures		5,368			971			4,425			(2,534	)
Proceeds on sale of assets		-			1,085			2,665			1,085
Purchase of equity investment		-			-			-			(2,060	)
Change in unsettled acquisition costs		(224	)		(380	)		(224	)		(380	)
Net change in restricted accounts		85			(23	)		(44	)		931
Net change in non-current investments		-			-			529			500
Net cash used by investing activities		(13,469	)		(11,643	)		(44,810	)		(40,794	)
Cash Flows from Financing Activities:
Repayments of long-term debt		(1,408	)		(426,077	)		(104,146	)		(438,622	)
Proceeds from the issuance of long-term debt		-			435,600			120,000			447,600
Debt issuance costs		-			(7,276	)		(4,448	)		(7,276	)
Payment of cash dividend on common stock		(9,736	)		(9,617	)		(38,818	)		(38,394	)
Payment of withholding taxes on stock-based compensation		(13	)		(66	)		(2,043	)		(392	)
Proceeds from issuance of common stock		159			206			358			556
Net cash used by financing activities		(10,998	)		(7,230	)		(29,097	)		(36,528	)
Change in cash and cash equivalents		(2,937	)		(1,960	)		5,174			9,045
Cash and cash equivalents, beginning of period		23,427			17,276			15,316			6,271
Cash and cash equivalents, end of period	$	20,490		$	15,316		$	20,490		$	15,316
Supplemental Cash Flow Data:
Interest paid	$	9,952		$	6,095		$	34,367		$	28,911
Loss on extinguishment of hedging instruments	$	-		$	-		$	-		$	11,145
Income tax refunds	$	(127	)	$	(2	)	$	(127	)	$	34
Supplemental Non-cash Transactions:
Property acquired under capital leases	$	64		$	-		$	1,905		$	1,295
Dividend declared, but not paid	$	2,268		$	9,628		$	2,268		$	9,628
Additions to ARO assets	$	370		$	17		$	488		$	88

Schedule 4
ALASKA COMMUNICATIONS SYSTEMS GROUP, INC.
EBITDA AND FREE CASH FLOW
(Unaudited, In Thousands)
	Three Months Ended						Twelve Months Ended
	December 31,						December 31,
		2011			2010			2011			2010
Net cash provided by operating activities	$	21,530		$	16,913		$	79,081		$	86,367
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization		(15,049	)		(16,104	)		(58,559	)		(72,078	)
Settlement of interest rate swap liability		-			11,145			-			-
Amortization of debt issuance costs and debt discount		(1,400	)		(4,094	)		(12,907	)		(9,674	)
Stock-based compensation		(1,268	)		(1,324	)		(3,888	)		(3,989	)
Deferred income taxes		(2,911	)		639			(11,646	)		(32,633	)
Provision for uncollectible accounts		(865	)		(555	)		(2,333	)		(2,863	)
Other non-cash income (expenses)		(183	)		(3,398	)		109			(3,595	)
Changes in operating assets and liabilities		2,390			(4,489	)		10,615			7,777
Net income (loss)	$	2,244		$	(1,267	)	$	472		$	(30,688	)
Add (subtract):
Interest expense		9,456			9,445			38,271			34,754
Loss on extinguishment of debt		-			2,081			13,445			13,339
Interest income		(8	)		(52	)		(34	)		(83	)
Depreciation and amortization		15,049			16,104			58,559			72,078
(Gain) loss on disposal of assets		25			3,325			(565	)		2,846
Gain on sale of long-term investments		-			-			(174	)		-
Gift of services		-			185			(51	)		439
Income tax (benefit) expense		2,277			(640	)		11,646			29,852
Stock-based compensation		1,268			1,324			3,888			3,989
EBITDA	$	30,311		$	30,505		$	125,457		$	126,526
Less:
Cash capital expenditures		(13,330	)		(12,325	)		(47,736	)		(40,870	)
Cash interest expense		(9,952	)		(6,095	)		(34,367	)		(28,911	)
Free Cash Flow	$	7,029		$	12,085		$	43,354		$	56,745
Note: In an effort to provide investors with additional information regarding the Company's results as determined by generally accepted accounting principles (GAAP), the Company also discloses certain non-GAAP information which management utilizes to assess performance and believes provides useful information to investors. The Company has disclosed its net income before interest, provisions for taxes, depreciation expense, gain or loss on asset purchases or disposals, gift of services, amortization of intangibles and stock-based compensation expense (EBITDA) because the Company believes it is an important indicator as it provides information about our ability to service debt, pay dividends and fund capital expenditures. EBITDA and Free Cash Flow are not a GAAP measure and should not be considered a substitute for net cash provided by operating activities and other measures of financial performance recorded in accordance with GAAP.

										Schedule 5
ALASKA COMMUNICATIONS SYSTEMS GROUP, INC.
OPERATING REVENUE AND EBITDA MARGIN BY SEGMENT
(Unaudited, In Thousands)
	Three Months Ended						Twelve Months Ended
	December 31,						December 31,
		2011			2010			2011			2010
Wireline revenue
Enterprise	$	14,103		$	13,045		$	52,073		$	48,571
Retail		20,148			20,646			81,050			82,658
Wholesale and Access		17,188			16,640			65,983			69,694
Total		51,439			50,331			199,106			200,923
Wireless revenue
Retail service		18,848			18,992			74,640			77,999
Equipment		1,065			1,349			4,233			5,520
Wholesale, roaming and other		16,120			14,105			71,335			57,082
Total		36,033			34,446			150,208			140,601
Total operating revenue	$	87,472		$	84,777		$	349,314		$	341,524
Wireline:
Operating revenue	$	51,439		$	50,331		$	199,106		$	200,923
Operating expenses (a)		(37,652	)		(34,652	)		(145,374	)		(141,122	)
Gift of services		-			185			(51	)		439
Stock-based compensation		1,118			1,146			3,418			3,499
Wireline EBITDA	$	14,905		$	17,010		$	57,099		$	63,739
Wireline EBITDA Margin		29.0	%		33.8	%		28.7	%		31.7	%
Wireless:
Operating revenue	$	36,033		$	34,446		$	150,208		$	140,601
Operating expenses (a)		(17,259	)		(15,688	)		(65,252	)		(60,762	)
Cost of Equipment		(3,518	)		(5,441	)		(17,068	)		(17,542	)
Stock-based compensation		150			178			470			490
Wireless EBITDA	$	15,406		$	13,495		$	68,358		$	62,787
Wireless EBITDA Margin		42.8	%		39.2	%		45.5	%		44.7	%
Consolidated EBITDA	$	30,311		$	30,505		$	125,457		$	126,526
Consolidated EBITDA margin		34.7	%		36.0	%		35.9	%		37.0	%
(a) Exclusive of depreciation, amortization and gain/loss on disposal of assets.

Schedule 6
ALASKA COMMUNICATIONS SYSTEMS GROUP, INC.
CAPITAL SPENDING
(Unaudited, In Thousands)
	Three Months Ended						Twelve Months Ended
	December 31,						December 31,
		2011			2010			2011			2010
Maintenance capital	$	9,632		$	12,926		$	37,247		$	36,697
Growth capital		8,470			-			12,932			-
Capitalized Interest		596			370			1,982			1,639
Capital expenditures	$	18,698		$	13,296		$	52,161		$	38,336
Change in unsettled capital expenditures		(5,368	)		(971	)		(4,425	)		2,534
Cash capital expenditures	$	13,330		$	12,325		$	47,736		$	40,870

Schedule 7
ALASKA COMMUNICATIONS SYSTEMS GROUP, INC.
KEY OPERATING STATISTICS
(Unaudited)
	Three Months Ended
	December 31			September 30,			December 31
		2011			2011			2010
Wireline:
Retail
Switched access lines		147,361			149,840			156,653
Quarterly growth rate in local telephone switched access lines		-1.7	%		-1.8	%		-0.8	%
Average monthly service revenue per subscriber for the quarter	$	18.18		$	18.25		$	18.15
Long distance subscribers
Long distance subscribers		59,096			60,067			59,166
Average monthly service revenue per subscriber for the quarter	$	16.19		$	16.22		$	17.51
Internet subscribers
DSL subscribers		44,314			44,797			45,698
Dial-up subscribers		3,304			3,577			4,262
Average monthly service revenue per subscriber for the quarter	$	45.92		$	45.00		$	40.81
Wholesale access lines
Wholesale access lines		13,373			14,057			15,780
Quarterly growth rate in wholesale local access lines		-4.9	%		-3.3	%		-3.9	%
Average monthly service revenue per line for the quarter	$	36.27		$	35.32		$	33.37
Wireless:
Wireless connections		117,559			117,496			120,413
Average monthly churn for the quarter		2.2	%		2.4	%		2.6	%
Average monthly retail service revenue per connection for the quarter	$	53.54		$	52.81		$	52.01
Average monthly data revenue per postpaid connection for the quarter	$	17.17		$	16.82		$	13.16

CONTACT:
Alaska Communications Investors:
Vice President, Investor Relations and Financial Planning & Analysis
Michael Allen, 907-564-7556
investors@acsalaska.com

EX-99.2

Exhibit 99.2

1  Alaska Communications – March 2012 Business Plan Review Accompanying Material for Q4 2011 Earnings Call: March 1, 2012

2  Alaska Communications – March 2012  Forward-Looking Statements We have included in this presentation certain "forward-looking statements," as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's beliefs as well as on a number of assumptions concerning future events made using information currently available to management.  You are cautioned not to put undue reliance on such forward-looking statements, which are not a guarantee of performance and are subject to a number of risks, uncertainties and other factors, many of which are outside ACS' control. For further information regarding risks and uncertainties associated with ACS' business, please refer to the company's SEC filings, including, but not limited to, our most recent annual report on Form 10-K and our most recent quarterly report on Form 10-Q and other filings with the SEC, included under headings such as “Risk factors” and “Management’s discussion and analysis of financial condition and results of operations.” Non-GAAP Financial Measures This presentation includes EBITDA presented for historical periods.  Management believes the most directly comparable GAAP measure would be “Net cash provided by operating activities.”  SAFE HARBOR STATEMENT

3  Alaska Communications – March 2012 A CASE FOR ACTION: UPDATING OUR BUSINESS PLAN  In 2011, we discussed the impact of two external events:  –New Competitor: Verizon Wireless began construction of an LTE network, and recently indicated it would launch service by the end of 2012. This will lead to some erosion of roaming revenue ($38.9M in 2011) and potential loss of retail market share.  –Regulatory Changes: The FCC’s USF  reform makes changes to our support revenues ($26.9M of wireless CETC and $21.3M of Wireline high cost support in 2011).  These revenues will not go to zero –we will continue to get both revenue streams at some reduced levels, with the reductions occurring over several years. Benefiting from historically stable performance, we had one of the highest leverage and payout ratios in our industry.  Our balance sheet, while having longer term maturities for debt, provides limited flexibility. Both of these are constraints during times of transition.  We took a fresh look at certain market segments where we had previously participated but had not put management attention. Examples include prepaid wireless and home Internet. Our results indicate significant opportunity for success.  Our assessment of the market opportunity and our disciplined execution in 2011 gives us confidence going into our business plan.

4  Alaska Communications – March 2012 ALASKA: STRONG ECONOMIC FOUNDATION NANA Regional Corporation Ciri bp Alaska Hotels, Alaska Vacations & Alaska Tours - Princess Lodges Department of the Interior Home Page Providence Health & Services logo CH2M_Hill FedEx ExxonMobil Municipality_Anchorage Population of ~722,000, with Anchorage accounting for ~296,000. Vibrant tourism.  Every year ~1.5M people visit Alaska  Favorable demographics.  GDP is up 3% from prior year, per capita income is 109% of national average.  Solid employment.  Growth in 9 out of 10 years with unemployment below national levels.  Alaska’s Permanent Fund is ~$40B –in the top 20 of the world’s sovereign funds  Alaska is resource rich:  Oil, Gas, Coal, Copper, Zinc, Gold, Silver, Lead, Rare Earths, Timber  DRIVERS OF THE ALASKA ECONOMY –A FEW EXAMPLES

5  Alaska Communications – March 2012 The right strategic choice:  Proven competitive advantage:  We believe that increasing demand for data, partially offset by continued erosion in voice volumes, will result in 5-6% annual growth rates in the total market.  Consumer Wireline, $185 Consumer Wireless, $274  Business Wireless, $110  Enterprise , $271  SMB, $246  Source:  Management estimates, industry sources.   Does not include revenue associated with CATV/IPTV offerings or wholesale/access revenues or roaming revenues  BY PRODUCT ($1,086M) CUSTOMER AND PRODUCT ($1,086M)  ALASKA RETAIL TELECOM MARKET IS ROBUST AND GROWING  Wireless, $384  Wireline, $493  Managed Services, $209   ($ in millions)  ($ in millions)

6  Alaska Communications –March 2012 COMPETITIVE LANDSCAPE: CONSUMER WIRELESS AND BUSINESS SEGMENTS  GCI AT&T Verizon Consumer Timing ? Wireline data /voice Video  Wireless  Business Wireline data /voice  Wireless  Managed Services ?   Business Differentiate with Connect-Host-Manage portfolio of solutions  MPLS / Metro Ethernet are highly differentiated capabilities  4G LTE reinforces quality leadership  Extensive fiber footprint  Local management and service Consumer  Combination of Wireline and wireless broadband  4G LTE reinforces quality leadership MARKET STRENGTHS

7  Alaska Communications – March 2012  THE OPPORTUNITY:SHARE GAIN IN A GROWING MARKET  We have an estimated 20% share in a $1.1B retail market.  The market is growing (5-6% per year).  Historical focus on Wireless and Enterprise was on 60% of the addressable market.  The remaining 40% of the market offers profitable growth opportunities.  We will gain share by developing and maintaining retail customer relationships across all customer segments.   Consumer Wireline, $185  Consumer Wireless, $274  Business Wireless, $110  Enterprise , $271  SMB, $246   CUSTOMER AND PRODUCT ($1,086M) ($ in millions)

8  Alaska Communications – March 2012 BUILDING BLOCKS FOR OUR BUSINESS PLAN  Investment in our employees:  Adding focused sales and increasing service teams for Enterprise, SMB and Consumer segments.  A recognition that an engaged workforce is a prerequisite for performance.   Leading customer experience:  Improving process, systems and training across all sales.  Developing the right teams to improve service delivery and service assurance.   Leveraging our network and products:  Maintaining our differentiation with continued investments in our network – 4G LTE, upgrading our Metro Ethernet and MPLS networks to the latest standards.  Developing products and solutions that leverage our network, with greater emphasis on bundling and solution selling. Simplifying our business to reduce long term operating cost structures:  Improve process to simplify how work gets done.

9  Alaska Communications – March 2012 OUR BUSINESS PLAN –KEY TAKEAWAYS  1.Robust Market: $1.1B retail telecom market in Alaska, growing 5-6% annually.   2.Opportunity: Our current market share is 20%.  Historically, we have focused on 60% of this market –Wireless and Enterprise.  We under-served the remaining 40% of the market –Small Medium Business and Consumer Broadband. Gaining a 5 point share in this overall market over a few years is $55-$60M in top line growth.  3.Focused on Growth: We do not intend to play defense. We intend to play offense, invest in our business and grow. We will invest in customer service, and our network and our products.  4.Reducing Debt: We will de-lever and strengthen our balance sheet.  5.Measures of success: Retail Revenue growth, and Free Cash Flow performance.  6.Build Shareholder Value: We are executing to this plan today.

10  Alaska Communications – March 2012