This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Frontier Communications Reports 2013 Second Quarter Results

Revenue for the second quarter of 2013 was $1,190.5 million as compared to $1,205.4 million in the first quarter of 2013 and $1,258.8 million in the second quarter of 2012. Revenue includes Mohave revenue of $7.8 million and $9.8 million in the first quarter of 2013 and the second quarter of 2012, respectively. Adjusting for the Mohave sale, total revenue declined by only 0.6% in the second quarter of 2013 from the first quarter of 2013, as compared to a decline of 2.0% in the first quarter of 2013 from the fourth quarter of 2012. This decrease in revenue is primarily due to the decline in voice revenues, and lower switched and nonswitched access revenue, partially offset by increases in data services revenue. Total business revenue was $546.4 million (a 0.4% decline in the quarter) as compared to $548.3 million in the first quarter of 2013 (a 2.9% decline versus the fourth quarter of 2012). Adjusting for the Mohave sale, total residential revenue was $505.5 million for the second quarter of 2013 (a 0.3% decline in the quarter) as compared to $507.0 million in the first quarter of 2013 (a 0.8% decline versus the fourth quarter of 2012).

At June 30, 2013, the Company had approximately 278,100  business customers and 2,842,900  residential customers. During the three months ended June 30, 2013, the Company improved the rate of decline in business customers by 42%, losing approximately 2,900 customers as compared to 5,100 customers in the three months ended March 31, 2013 and 5,700 customers in the three months ending June 30, 2012. Additionally, during the three months ended June 30, 2013, the Company improved the rate of decline in residential customers by 41%, losing approximately 16,300 customers as compared to 27,800 customers in the three months ended March 31, 2013 and 60,000 customers in the three months ended June 30, 2012.

During the most recent quarter, the average monthly business revenue per customer was $651.39, or 1.1% higher than the first quarter of 2013, and the average monthly residential revenue per customer was $59.10, or 0.5% higher than the first quarter of 2013.

2 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,680.53 +84.18 0.48%
S&P 500 2,057.64 -43.85 -2.09%
NASDAQ 4,958.4680 -122.0370 -2.40%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs