- Wireline revenue for the quarter was $182 million, comparable to $183 million in the third quarter of 2011, while Adjusted EBITDA of $84 million was down from $87 million generated in the third quarter of 2011 as a result of access line losses. Fioptics entertainment subscribers increased 34 percent year-over-year to 51,000, which represents 28 percent of the total 184,000 units passed with Fioptics at quarter-end.
- Wireless generated revenue of $60 million and Adjusted EBITDA of $21 million during the quarter, translating into a strong Adjusted EBITDA margin 2 of 35 percent.
- For the quarter, CyrusOne revenue of $57 million increased by 20 percent compared to the third quarter of 2011, and its Adjusted EBITDA increased by 19 percent to $30 million, resulting in an Adjusted EBITDA margin of 52 percent. At the end of the quarter, the segment had 896,000 square feet of data center capacity, and utilization was 78 percent.
- The company received a favorable outcome on its private letter ruling request with the Internal Revenue Service regarding CyrusOne’s qualification as a real estate investment trust.
Cincinnati Bell Inc. (NYSE:CBB) today announced financial results for the third quarter of 2012. For the quarter, revenue was $368 million, comparable to the third quarter of 2011. Net income of $4 million in the quarter resulted in diluted earnings per share of 1 cent compared to 7 cents in the third quarter of 2011, due primarily to $6 million of mark-to-market charges on compensation plans associated with a 53 percent increase in the company’s stock price during the third quarter of 2012 and an $8 million gain in 2011 on the sale of the company’s home security business. Adjusted earnings before interest, taxes, depreciation and amortization 1 (Adjusted EBITDA) for the third quarter were $130 million, down from $133 million generated in the same period of 2011, as a result of the mark-to-market charges partially offset by growth in CyrusOne Adjusted EBITDA. “Cincinnati Bell delivered strong financial results again this quarter, building on its performance from the first half of 2012,” said Jack Cassidy, president and chief executive officer. “During the third quarter, the company achieved its highest stock price in almost five years, up 88 percent since the beginning of the year.” Highlights