EQUITY

6 Months Ended

Jun. 30, 2015

EQUITY

EQUITY

9. EQUITY

Shareholders’ equity was as follows (in thousands):

	Six months ended June 30,
	2014						2015
	Atlantic Tele-		Non-Controlling				Atlantic Tele-		Non-Controlling		Total
	Network, Inc.		Interests		Total Equity		Network, Inc.		Interests		Equity
Equity, beginning of period	$	643,330	$	56,525	$	699,855	$	677,222	$	60,960	$	738,182
Stock-based compensation		2,379		—		2,379		2,677		—		2,677
Comprehensive income:								0		0
Net income		19,354		5,368		24,722		6,181		8,345		14,526
Translation adjustment		—		—		—		28		—		28
Total comprehensive income		19,354		5,368		24,722		6,209		8,345		14,554
Issuance of common stock upon exercise of stock options		1,109		—		1,109		2,074		—		2,074
Dividends declared on common stock		(8,605)		—		(8,605)		(9,306)		—		(9,306)
Distributions to non-controlling interests		—		(6,081)		(6,081)		—		(9,261)		(9,261)
Investments made by non-controlling interests		—		—		—		—		906		906
Sale of non-controlling interests		—		—		—		—		20,013		20,013
Purchase of treasury stock		(1,778)		—		(1,778)		(1,955)		—		(1,955)
Equity, end of period	$	655,789	$	55,812	$	711,601	$	676,921	$	80,963	$	757,884