The company reported non-GAAP earnings per share of 7 cents on sales of $1.2 billion. This marked a one-cent EPS increase and flat revenue year over year. These figures include adjustments such as a one-cent headwind a share. (T)
Frontier also added approximately 28,000 broadband customers in the quarter.
"We are very pleased with the consistent positive results we delivered every quarter in 2013," said Chairman and CEO Maggie Wilderotter in the company's statement. "Frontier delivered record broadband net additions of 112,250 for the year and our quarterly revenue declines improved substantially from 2012. Customer retention, average revenue per customer and broadband market share all increased in 2013 and we implemented network improvements and cost efficiencies to sustain this positive operating trend in 2014."
TheStreet Ratings team rates FRONTIER COMMUNICATIONS CORP as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate FRONTIER COMMUNICATIONS CORP (FTR) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its expanding profit margins and increase in stock price during the past year. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow."