This Week
  • CEO Eric Bieber M.D. must meld two systems, transition to new model.

  • President Kevin Bragg has built a career with Chrisanntha Construction Corp.

  • Planning can help reduce conflict when the time comes to end a business partnership.

  • Viewpoint Systems has been known to keep a close eye on its customers.

  • Twenty-year-old Jaquan Outlaw is off to a fast start.

  • A recent visit to Ho Chi Minh City in Vietnam was an eye-opener for RIT students.

Frontier reports slight drop in Q2 revenue

Rochester Business Journal
August 6, 2014


Though Frontier Communications Corp. posted a decline in revenue for the second quarter, the telecommunications firm managed to meet analysts’ estimates.

Frontier earned $37.7 million or 4 cents a share, compared with a net loss of $38.5 million, or 4 cents a share, in the second quarter of 2013. Excluding expenses and other items, adjusted net income totaled $53.7 million, or a nickel a share.

Revenue declined to $1.15 billion from $1.19 billion a year ago. Operating income in the second quarter was $224 million, compared with $266 million in 2013.

The firm reported its earnings after the market closed Tuesday. Analysts expected the company to earn a nickel a share on revenues of $1.15 billion.

“Frontier further improved our revenue trajectory with sequential growth in residential customer revenue and revenue stability in the small, medium and enterprise portion of the business,” said Maggie Wilderotter, Frontier chairman and CEO in a statement. “This was the sixth consecutive quarter of strong broadband net additions and our broadband market share expanded in 82 percent of all markets during the first half of this year.”

The company’s capital expenditures for Frontier business operations reached $125.5 million for the second quarter and $260.6 million for the first quarter. A year ago, capital expenditures were $137.5 million for the second quarter.

“It is gratifying to see our continued progress toward our long-term objectives of revenue growth, delivering strong free cash flow and maintaining a very attractive dividend payout ratio,” Wilderotter said in a statement.

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


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google