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Monday, September 22, 2014, 5:42 p.m.
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Windstream profit down 65% in second quarter

By Gavin Lesnick

This article was published August 7, 2014 at 6:39 a.m.

Little Rock-based Windstream reported Thursday that net income fell 65 percent in the second quarter.

The telecommunications company said earnings in the latest quarter were $14 million, or 2 cents per share, down from $40 million, or 6 cents per share, in the second quarter of 2013.

Total revenue and sales were $1.47 billion, down 2 percent from $1.5 billion a year earlier.

The company noted that the results include "after-tax merger and integration, restructuring and other expenses" that, if excluded, would have doubled earnings per share to 4 cents.

Windstream CEO Jeff Gardner called the quarter "solid and largely in-line with our expectations."

"Importantly, the progress made during the first half of 2014 has positioned us well to reach our goals for the year," he said in a statement. "In addition, our plans to spin off certain assets will allow Windstream to accelerate network investments, provide enhanced services to customers and maximize shareholder value."

Windstream announced last month that plan to separate some of its network assets into a real estate investment trust, a move it described as a "tax-free spinoff" that will lower debt by $3.2 billion.

The company will hold a conference call on the second-quarter results at 7:30 a.m. It can be accessed by calling (877) 374-3977 and using ID 72218817 or by listening to a live stream on the Windstream website.

Beginning at 10:30 a.m., a replay will be posted on the same website or available by calling (855) 859-2056 and using the same ID.

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cndublu says... August 7, 2014 at 9:26 a.m.

Looks like sending all those jobs to India is really paying off...LOL

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