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Windstream Corp. on Tuesday reported a fourth-quarter profit as revenues rose.
The Arkansas-based company, which acquired Paetec Holding Corp. in December 2011, reported net income of $10.1 million, or 2 cents a share, compared with a net loss of $35 million, or 7 cents a share, a year earlier.
Windstream logged revenues of $1.54 billion, up from $1.21 billion. The company’s operating income was $172 million, up from $96 million.
Analysts had predicted revenues of $1.55 billion and earnings of 13 cents a share for the quarter.
Windstream’s total costs and expenses for the quarter were $1.37 billion, up from $1.11 billion a year ago.
For 2012, the company reported net income of $168 million, or 28 cents a share, down from $170 million, or 32 cents a share, in 2011. Revenues for 2012 were $6.16 billion, up from $4.28 billion.
“We made significant progress on key initiatives in 2012 that will further strengthen our business going forward,” said Jeffery Gardner, president and CEO of Windstream, in a statement. “I am particularly proud of our team's accomplishments in navigating the multiyear impact of regulatory reform and evolving consumer preferences while maintaining solid operating cash flow.”
Shares of Windstream stock (NasdaqGS: WIN) were trading Tuesday midday at $9, up 7 cents from Friday’s close.
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