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Windstream posts Q4 profit, misses Street expectations

Rochester Business Journal
February 19, 2013

Windstream Corp. on Tuesday reported a fourth-quarter profit as revenues rose.
 
The Arkansas-based company, which acquired Paetec Holding Corp. in December 2011, reported net income of $10.1 million, or 2 cents a share, compared with a net loss of $35 million, or 7 cents a share, a year earlier.

Windstream logged revenues of $1.54 billion, up from $1.21 billion. The company’s operating income was $172 million, up from $96 million.

Analysts had predicted revenues of $1.55 billion and earnings of 13 cents a share for the quarter.

Windstream’s total costs and expenses for the quarter were $1.37 billion, up from $1.11 billion a year ago.

For 2012, the company reported net income of $168 million, or 28 cents a share, down from $170 million, or 32 cents a share, in 2011. Revenues for 2012 were $6.16 billion, up from $4.28 billion.

“We made significant progress on key initiatives in 2012 that will further strengthen our business going forward,” said Jeffery Gardner, president and CEO of Windstream, in a statement. “I am particularly proud of our team's accomplishments in navigating the multiyear impact of regulatory reform and evolving consumer preferences while maintaining solid operating cash flow.”

Shares of Windstream stock (NasdaqGS: WIN) were trading Tuesday midday at $9, up 7 cents from Friday’s close.

(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


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