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Windstream Reports Fourth-Quarter Results, Reaffirms Commitment To $1 Annual Dividend

  • Business service revenues were $917 million, a 3 percent increase year-over-year
  • Consumer broadband service revenues were $116 million, a 5 percent increase year-over-year
  • Total business and consumer broadband revenues now represent 70 percent of total revenues
  • Total revenues and sales were $1.54 billion, a decline of 2 percent year-over-year
  • Adjusted OIBDA was $619 million, an increase of 2 percent year-over-year

LITTLE ROCK, Ark., Feb. 19, 2013 (GLOBE NEWSWIRE) -- Windstream Corp. (Nasdaq:WIN) grew total business and consumer broadband revenues while delivering improved profitability in the fourth quarter. Total business and consumer broadband revenues now represent 70 percent of the company's total revenues.

"Windstream continues to produce substantial free cash flow that enables us to invest in our business and reduce our debt while continuing to pay our $1 annual dividend," said Jeff Gardner, president and CEO. "Our management team and the board of directors unanimously support continuing the dividend at its current rate because we believe it is the best way to create value for our shareholders.

"We made significant progress on key initiatives in 2012 that will further strengthen our business going forward. I am particularly proud of our team's accomplishments in navigating the multi-year impact of regulatory reform and evolving consumer preferences while maintaining solid operating cash flow."

2012 Accomplishments

Windstream accomplished important objectives in 2012 as it continued its transformation to an enterprise-focused provider of communications and technology services. During the year, the company achieved significant milestones in integrating PAETEC, strengthening its balance sheet and improving its cost structure while investing in strategic capital initiatives and growing strategic revenue.

Reflecting the successful shift in Windstream's focus, business service revenues were $917 million in the fourth quarter on a pro forma basis and $3.6 billion for the year, an increase of 3 percent year-over-year for both the fourth quarter and the year.

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