Windstream 2Q profit falls 11%; acquisition approved.(Public Company Reports)(D and E Communications Inc.)(Financial report)(Bri

Windstream Corp. said second-quarter income fell 11 percent. Meanwhile, the Federal Communications Commission has approved the telecom's $330 million acquisition of D&E Communications of Ephrata, Pa, first announced in May.

Windstream said second-quarter net income was $91 million, or 21 cents a share, compared with $102 million, or 23 cents a share, a year ago Analysts had expected earnings of 23 cents a share.

Revenue of $753 million was down 5.9 percent from the $799.9 million it reported a year ago.

The declines came amid "a challenging economic environment," according to Jeff Gardner, president and CEO.

The D&E deal will double Windstream's presence in Pennsylvania, adding about 165,000 access lines and about 44,000 high-speed Internet customers. D&E shareholders are expected to vote on the deal in late September.

Windstream declared a regular quarterly dividend of 25 cents, payable Oct. 15 to stockholders of record as of Sept. 30.

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