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Windstream earnings drop 12 percent for second quarter
LITTLE ROCK—Windstream Corp. announced Friday that it earned $102 million for its second quarter, a drop of 12 percent from a year before.
Windstream, which provides voice, broadband and entertainment services to customers in 16 states, had a 3 percent dip in revenue to $799.9 million for the quarter. The company’s earnings were 23 cents per share. Analysts polled by Thomson Financial had forecast earnings of 26 cents per share on revenue of $814 million. The company lost 4 cents per share on discontinued operations, which included an impairment charge of $18 million that was partially offset by $2 million in earnings from wireless properties. Total access lines declined by 37,000, giving the company 3.12 million total lines at the end of the quarter, a decline of 5 percent year-over-year. Windstream expanded its high-speed Internet customer total by 23,000 in the quarter for a total 934,000 and added 21,000 digital TV customers for a total of 231,000. Windstream focuses on rural areas for its customers. “This is quite an accomplishment given the gradually increasing cable TV competition for local phone service and the migration of our business customers to higher capacity circuits,” Windstream President and CEO Jeff Gardner said. The company said it has an agreement to sell its wireless properties in North Carolina to AT&T for $60 million in cash. |
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