Cincinnati Bell Swings to Profit

Cincinnati Bell(CBB Quote), a provider of data and voice communications services, said it swung to profit in its second quarter, helped by increased wireless and data revenue, lower interest and income tax expenses.

The company earned $24.3 million, or 9 cents a share, in the quarter, compared with a loss of $29.8 million, or 13 cents a share, a year ago. After preferred dividends, the company earned $21.7 million. Adjusted for items, the company earned $20 million, or 8 cents a share. Analysts surveyed by Thomson Financial were expecting 7 cents a share.

Second-quarter revenue rose 2.5% from a year ago to $323.3 million as against analysts' expectation of $300.9 million. ...