Frontier Communications Corporation (NASDAQ: FTR):
|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%|
|●||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.