Embarq's 1Q Profit Falls 18 Percent

DAVID TWIDDY

KANSAS CITY, Mo. (AP) — Embarq Corp., the nation's fourth-largest traditional telephone company, said Wednesday its first-quarter profit fell 18 percent as business customers dropped service and the company lost money on the sale of its logistics unit.

The Overland Park, Kan.-based company reported earning $174 million, or $1.21 per share, during the quarter, compared with earning $212 million, or $1.37 per share, during the same period a year ago.

Not including a $26 million loss on the sale of Embarq Logistics to KGP Telecommunications Inc., Embarq said it would have earned $1.39, above the $1.29 expected by analysts surveyed by Thomson Reuters. ...