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
TheStreet Open House

Windstream Reports Fourth-Quarter, Full-Year 2013 Results

LITTLE ROCK, Ark., Feb. 27, 2014 (GLOBE NEWSWIRE) -- Windstream (Nasdaq:WIN) grew strategic revenues 2 percent in 2013 as the company continued to execute on its strategy to become the nation's premier enterprise communications and services provider.

"2013 was a solid year for Windstream. Our business team finished the year strong, generating sequential revenue growth again, and our consumer team continued to grow broadband revenue and deliver steady results, all of which better position us to achieve our goals and deliver value to shareholders," said Jeff Gardner, president and CEO.

2013 Highlights

Growing Strategic Revenue

Windstream grew strategic revenue 2 percent year-over-year in 2013. Total business and consumer broadband revenues represented 73 percent of the company's total revenues at the end of the fourth quarter.

Maintaining Healthy Margins

Through disciplined expense management, Windstream delivered $2.32 billion in Adjusted OIBDA and maintained stable margins of 39 percent for 2013, while continuing to reposition the business in growth areas and navigating regulatory reform.

Investing Capital for Growth

Windstream continued to invest in its network to provide a platform for continued success. The company deployed fiber to approximately 2,000 wireless towers, opened three data centers and expanded and enhanced its broadband network throughout the year.

Improving the Balance Sheet

During the year, Windstream reduced its debt by more than $200 million. The company also refinanced almost $4 billion in debt in 2013, which extended debt maturities and lowered cash interest expense.

Returning Capital to Shareholders

Windstream generated strong adjusted free cash flow of $891 million for the year and paid $594 million in dividends to shareholders, representing a dividend payout ratio of 67 percent of adjusted free cash flow.

Pro Forma Financial Results

Total revenues and sales were $1.5 billion in the fourth quarter, a decline of 3 percent from the same period a year ago, and $6.0 billion for the year, a decline of 2 percent year-over-year. Strategic revenue was $4.3 billion for the year, an increase of 2 percent year-over-year.

1 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!
DOW 17,067.56 -30.89 -0.18%
S&P 500 2,002.28 -1.09 -0.05%
NASDAQ 4,598.1880 +17.9170 0.39%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs