LITTLE ROCK — Windstream said Thursday that its revenue in the second quarter was up but that its net income fell by more than 40 percent.
The Little Rock-based telecommunications-services provider said net income for the three months ending June 30 was $54 million, a decline of 44 percent from last year's second-quarter total of $97 million.
The firm said the results were affected by a $12 million after-tax merger and integration expense, and $6 million in restructuring costs.
Total revenue for the quarter was $1.54 billion, a nearly 50 percent increase from last year's about $1 billion revenue in the second quarter.
President and Chief Executive Officer Jeff Gardner called the company's performance in business sales and consumer broadband "solid," adding revenue is expected to increase as the year progresses.
"We remain positioned well to sustain our dividend, deleverage the balance sheet and consider additional shareholder friendly activities over time," he said in a statement.
Windstream in May announced it was cutting up to 400 management jobs in a move aimed at saving as much as $40 million a year. The company last year completed a $2.3 billion purchase of New York-based Paetec Holding Corp., adding 36,000 miles of fiber to its network.