Windstream posts a loss despite higher sales

Feb 23, 2012 (The Lexington Herald-Leader - McClatchy-Tribune Information Services via COMTEX) -- Its sales were boosted by acquisitions, but Lexington telephone operator Windstream announced Wednesday a loss for its fourth quarter.

The company generated $1.21 billion in sales in the fourth quarter, up 23 percent from $981 million for the same period in 2010. Despite the sales gain, the company reported a loss of $31.9 million, or 6 cents a share. That's down from a profit of $56.5 million, or 10 cents a share, in the fourth quarter of 2010.

Results were weighed down by factors including charges related to the company's pension-accounting method, acquisitions and the early retirement of debt.

Excluding those factors, the company said, it would have earned 19 cents a share in the quarter.

The company continued its shift toward focusing on business revenues and broadband for consumers, as it seeks to expand from its past reliance on land-line telephone access.

In the fourth quarter, Windstream completed its acquisition of PAETEC, a business-focused company with more than 36,000 miles of fiber and seven data centers.

"We have a tremendous opportunity this year to build on the financial momentum of 2011 and our expanded market presence and network to deliver advanced communications and technology solutions nationwide," chief executive Jeff Gardner said in a statement.

The company's number of voice lines declined by 4 percent at the end of the year, falling from 2.01 million at the end of 2010 to 1.93 million at the end of 2011.

For the full year, revenue was $4.29 billion, up 15 percent from $3.71 billion in 2010. Its net income was $172.3 million, or 33 cents a share, down from $312.7 million, or 66 cents a share, in 2010.

___ (c)2012 the Lexington Herald-Leader (Lexington, Ky.) Visit the Lexington Herald-Leader (Lexington, Ky.) at www.kentucky.com Distributed by MCT Information Services

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