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TheStreet Open House

Windstream Reports Second-Quarter Results

Stocks in this article: WIN

  • Business service revenues were $893 million, a 2 percent increase year-over-year on a pro forma basis
  • Consumer broadband service revenues were $114 million, a 4 percent increase year-over-year on a pro forma basis
  • Total revenues and sales were $1.54 billion, a 1 percent decrease year-over-year on a pro forma basis
  • Adjusted OIBDA was $596 million, a 2 percent decrease year-over-year on a pro forma basis
  • Board of directors declares 25-cent dividend for 25th consecutive quarter since company's formation

LITTLE ROCK, Ark., Aug. 9, 2012 (GLOBE NEWSWIRE) -- Windstream Corp. (Nasdaq:WIN) today reported second-quarter results, bolstered by higher revenue in business sales and consumer broadband.

"Our teams once again delivered solid results in the key areas of business sales and consumer broadband during the second quarter," said Jeff Gardner, president and CEO of Windstream. "We continue to make important investments in our network, particularly in fiber-to-the-tower projects, to further improve our financial profile. As a result of continued sales success in our business channel, as well as expected cost savings from the PAETEC acquisition and our management reorganization, we expect to see sequential improvement in revenue and adjusted OIBDA for the remainder of the year, particularly in the fourth quarter. We remain positioned well to sustain our dividend, deleverage the balance sheet and consider additional shareholder friendly activities over time."

Business service revenues were $893 million, up 2 percent from the same period a year ago on a pro forma basis. Data and integrated services revenues were $377 million, an increase of 8 percent from the same period a year ago on a pro forma basis, driven by growth in IP, next generation data and data center services. Carrier service revenues were $164 million, an increase of 5 percent year-over-year on a pro forma basis, largely due to fiber-to-the-tower site installations and continued demand for additional circuits for wireless backhaul services.

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