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Windstream Earnings Fall 7%

Windstream's fourth-quarter earnings fell 7%. The company sees decreased or unchanged 2010 revenue.
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reported a drop in fourth-quarter earnings and sees decreased or unchanged 2010 revenue.

Windstream projects 2010 revenue of $3.5 billion to $3.69 billion, a decrease of 4% to nil. Analysts forecast revenue of about $3.1 billion.

Windstream expects to incur roughly $63 million in non-cash pension expense and about $14 million in restricted stock expense that will not affect free cash flow in 2010.

Windstream posted fourth-quarter net income of $76 million, a 7% decrease from a year ago, or 17 cents a share. Revenue was $754 million, a 3% decrease from a year ago, as total access lines declined.

The Wall Street consensus estimate for Windstream's fourth quarter was 20 cents a share on revenue of $739.03 million.

-- Reported by Andrea Tse in New York

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