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Windstream Reports Third-Quarter Results

Stocks in this article: WIN

  • Business service revenues were $916 million, a 1 percent increase year-over-year
  • Consumer broadband service revenues were $119 million, a 4 percent increase year-over-year
  • Adjusted free cash flow was $264 million, a 54 percent increase year-over-year
  • Enterprise customers grew 6 percent year-over-year

LITTLE ROCK, Ark., Nov. 7, 2013 (GLOBE NEWSWIRE) -- Windstream (Nasdaq:WIN) grew business and consumer broadband revenues and generated strong free cash flow in the third-quarter.

"Growth in business and consumer broadband revenues, combined with declining capital expenditures and lower cash interest expense, produced strong free cash flow during the quarter," said Jeff Gardner, president and CEO. "We are confident that our strategy to transform Windstream into an enterprise-focused company enhances our growth opportunities and positions us for continued success. Windstream generates substantial free cash flow which supports our dividend. As we look forward, we will remain focused on creating and returning value to our shareholders."

Pro Forma Results

Growth in the business channel combined with steady consumer results helped to offset greater wholesale declines due to a second step-down in intercarrier compensation rates during the third quarter.

Business service revenues were $916 million in the third quarter, an increase of $10 million or 1 percent year-over-year.

Data and integrated services revenues were $407 million, an increase of 5 percent from the same period a year ago. Data and integrated services include IP-based voice and data services, dedicated Internet access and data center and managed services.

Carrier service revenues were $169 million, an increase of 4 percent year-over-year due to fiber-to-the-tower installations.

Enterprise customers, who generate $750 or more in revenue per month, grew 6 percent year-over-year. Average service revenue per business customer per month increased 5 percent from the same period a year ago.

Consumer broadband service revenues were $119 million, up 4 percent from the same period in 2012, driven by increased sales of broadband features and faster speeds. Total average revenue per customer increased 6 percent year-over-year.

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