Windstream reports net loss in fourth quarter
This article was published February 22, 2012 at 6:32 a.m.
LITTLE ROCK — Windstream on Wednesday reported a net loss in its fourth quarter and a decrease in earnings for the year.
The Little Rock-based telecommunications company said it had a fourth quarter net loss of $31.9 million or 6 cents per share. That was down from a net income of $57 million compared to the same time in 2010.
The company noted that its fourth quarter results, calculated under Generally Accepted Accounting Principles, include a non-cash pension charge of $103 million, $23 million in after-tax merger and expense and an after-tax loss of about $7 million.
"Excluding all of these items, adjusted earnings per share would have been 19 cents for the fourth quarter," the company said in a statement.
Net income for all of 2011 was $172 million, down 45 percent from $313 million in net income in 2010. Total revenues were up from $3.7 billion in 2010 to $4.3 billion last year.
Windstream in the fourth quarter acquired national business services provider PAETEC, adding 36,000 miles of fiber to the company's network.
President Jeff Gardner said the deal was part of what made 2011 "an incredibly successful year."
“Together we are a much stronger company with an expansive fiber network, an attractive product portfolio and an outstanding business sales team, positioning Windstream for success in the enterprise space on a national level,” he said in a news release.
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