HONOLULU, Aug. 9, 2012 (GLOBE NEWSWIRE) -- Hawaiian Telcom Holdco, Inc. (Nasdaq:HCOM) reported financial results for its second quarter ended June 30, 2012. The highlights and other recent developments are as follows:
- Revenue totaled $94.7 million, resulting in Adjusted EBITDA (1) of $29.2 million.
- Generated net income of $5.5 million, or $0.51 per diluted share, down by $1.2 million, primarily attributable to an increase in depreciation and amortization due to significant investments in its broadband network.
- Business data revenue increased 5 percent year-over-year driven by growth in switched Ethernet, IP-VPN and dedicated Internet access revenues.
- Consumer revenues increased 1 percent sequentially, driven by video revenue more than doubling.
- Hawaiian Telcom TV subscriber penetration increased to over 12 percent of the approximately 50,000 households enabled, up from over 9 percent of the approximately 41,000 households enabled at the end of the first quarter.
- High-speed Internet ("HSI") subscribers increased 3.7 percent year-over-year to 105,000, driven by video bundle sales and enhancements to the broadband network.
- Recently awarded a contract for over 100 new fiber-to-the-tower sites to continue to support the 4G rollout of the large national wireless carriers.
- Announced the acquisition of Wavecom Solutions Corporation ("Wavecom"), in a move to enhance its network capabilities and strengthen its ability to deliver next generation, end-to-end solutions to customers.