Windstream 1Q profit down 29 pct.; revenue falls 6 pct.(Financial report)(Brief article)

Windstream Corp. reported first-quarter net income down 29 percent to $88 million, or 20 cents a share, from $123.7 million, or 27 cents a share, during the same quarter last year.

The telecommunications firm also reported quarterly revenue down 6 percent to $755 million.

Excluding one-time items, the company made 24 cents a share, beating analyst expectations by a penny.

"I am pleased with our results for the first quarter, particularly our operating metrics and cash flow. While our revenue decline year-over-year was affected somewhat by the challenging economic environment, our operating metrics continue to lead the industry," Jeff Gardner, president and CEO, said in a news release. "Further, our team has done a great job managing overall expenses, despite higher expenses this quarter repairing damage from a severe ice storm."

The company said it added about 31,000 high-speed Internet customers during the first quarter, nearly double the number of customers added in the fourth quarter. That brought its total broadband customer base to more than 1 million customers, up about 11 percent year-over-year.

Broadband penetration is 34 percent of total access lines, and residential broadband penetration is about 52 percent of primary residential lines, the company said.

Windstream also said it added more than 21,000 digital TV customers in the quarter, bringing its total customer base to about 295,000, or 17 percent penetration of primary residential lines.

Print Get the Mag Weekly Updates