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

The Company’s broadband customer net additions were approximately 29,500 during the second quarter of 2013, which was greater than the approximately 28,200 broadband customer net additions for the first quarter of 2013 and the total 23,400 net additions in all of 2012. The Company had approximately 1,812,100 broadband customers at June 30, 2013. The Company added 15,200 video customers during the second quarter of 2013. The Company had approximately 380,200 video customers at June 30, 2013.

Network access expenses for the second quarter of 2013 were $107.1 million as compared to $109.4 million in the first quarter of 2013 and $115.4 million in the second quarter of 2012.

Other operating expenses for the second quarter of 2013 were $534.0 million as compared to $541.5 million in the first quarter of 2013 and $539.9 million in the second quarter of 2012. Included in other operating expenses were severance costs of $4.3 million, $2.4 million and $1.5 million in the second quarter of 2013, the first quarter of 2013 and the second quarter of 2012, respectively. Other operating expenses, excluding severance costs, in the second quarter of 2013 were lower than in the first quarter of 2013 by $9.4 million, primarily due to decreased compensation costs resulting from reduced headcount and lower outside service costs.

Depreciation and amortization for the second quarter of 2013 was $297.8 million as compared to $303.7 million in the first quarter of 2013 and $307.0 million in the second quarter of 2012. Amortization expense decreased by $11.5 million in the second quarter of 2013 as compared to the second quarter of 2012, primarily due to certain intangible asset items that were fully amortized in 2012.

Sale of Mohave Cellular Limited Partnership Interest

On April 1, 2013, the Company closed on the sale of its partnership interest in Mohave Cellular Limited Partnership (Mohave) to Verizon Wireless, and the Company recognized a gain on sale of approximately $14.6 million before taxes (approximately $8.6 million, or $0.01 per share, after taxes) in the second quarter of 2013.

3 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
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,043.11 -37.03 -0.20%
S&P 500 2,111.12 -6.57 -0.31%
NASDAQ 5,059.2210 -32.8640 -0.65%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs