| Earnings Scorecard |
| Actual | Estimated* | Year-Ago |
| $0.40 | $0.40 | $0.42
|
 |
CenturyTel(CTL Quote - Cramer on CTL - Stock Picks) said Tuesday that its earnings met Wall Street's expectations for the fourth quarter, but fell short of the year-ago totals because of an expense related to a third-quarter acquisition from
Verizon (VZ Quote - Cramer on VZ - Stock Picks).
The company said income from continuing operations totaled $57.1 million, or 40 cents a diluted share, lower than the $59.7 million, or 42 cents a share, in the year-ago period. Twelve analysts polled by
First Call/Thomson Financial were calling for the company to earn 40 cents for the quarter. Revenue from recurring operations increased to $527.2 million from $422.1 million in the same period last year.
The communications company blamed the earnings decline on an interest expense increase related to the financing of about 500,000 telephone access lines acquired from Verizon during the third quarter.
Shares of CenturyTel, which is based in Monroe, La., lost 62 cents, or 1.7%, to $35.87 in recent
New York Stock Exchange trading.
Yi Ping Ho
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