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Frontier Communications Reports 2014 First Quarter Results

Frontier Communications Corporation (NASDAQ: FTR):

   

Q1 2014

Q1 2013

Record broadband net additions 37,200 28,200
Residential customer retention improvement 49% 38%
Industry leading operating cash flow margins 45% 47%
Attractive dividend payout ratio 43% 48%
 
‚óŹ 2014 guidance for cash flow, capital expenditures and cash taxes reaffirmed

Frontier Communications Corporation (NASDAQ: FTR) today reported first quarter 2014 revenue of $1,154.0 million, operating income of $226.0 million and net income attributable to common shareholders of $39.3 million, or $0.04 per share. Excluding acquisition and integration costs of $10.6 million, acquisition-related interest expense of $7.5 million and severance costs of $0.4 million, partially offset by discrete tax items of $2.9 million (combined impact of $9.1 million after tax), non-GAAP adjusted net income attributable to common shareholders for the first quarter of 2014 is $48.4 million, or $0.05 per share.

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