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Windstream profits soar in 4Q

Rochester Business Journal
February 27, 2014

Windstream Holdings Inc. on Thursday reported a jump in fourth-quarter profits, beating Wall Street estimates by 11 cents a share. Total revenue, however, was flat.

The holding company is the parent of Arkansas-based telecommunications firm Windstream Corp., which employs some 675 in Rochester and Perinton.

The company reported net income of $118 million, or 20 cents a share in the quarter, up from $10.1 million, or 2 cents a share, in the fourth quarter of 2012.

Analysts had projected earnings of 9 cents per share.

Quarterly revenues and sales totaled $1.5 billion, matching revenues from a year ago. Full-year revenues and sales were $6 billion, down from $6.1 billion in 2012.

President and CEO Jeffery Gardner called 2013 a solid year.

“Our business team finished the year strong, generating sequential revenue growth again, and our consumer team continued to grow broadband revenue and deliver steady results, all of which better position us to achieve our goals and deliver value to shareholders,” he said in a statement.

Adjusted capital expenditures totaled $812 million, excluding $29 million used to integrate Paetec Holdings Inc. following its acquisition as well as a billing system conversion, the company reported.

Windstream expects business revenue to continue to grow in 2014, with consumer and wholesale revenues improving. Total revenue for the year is predicted to be in the range of 2.5 percent below to 1 percent above 2013 totals, the statement said.

The company announced last week that 400 jobs would be eliminated by Monday to improve operational efficiency, with 175 of the cuts through voluntary separation agreements.

Windstream employs 13,500 nationwide.

(c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


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