Windstream net income in the first quarter was down nearly 70 percent from a year earlier, the Little Rock-based communications company said Thursday.
Windstream reported first-quarter net income of $16 million, or 2 cents per share, down from $52 million, or 9 cents per share, in the first quarter of 2013.
The results include after-tax merger and integration, restructuring and other expenses that, if excluded, would have brought earnings per share up to 4 cents, Windstream noted.
Total revenue and sales, meanwhile, totaled $1.46 billion, about a 2 percent decline from $1.5 billion reported in the first quarter last year.
“Total revenue trends improved both year-over-year and sequentially as wholesale pressures began to abate,” President and CEO Jeff Gardner said in a statement. “We are very focused on improving business revenue trends and are taking many proactive steps to accelerate sales and strengthen our competitive position. In addition, we are investing in both the business and consumer network to drive growth opportunities and improve the customer experience.”
New sales and productivity initiatives launched in the first quarter and an expanded advertising campaign were resulting in "positive momentum," Gardner added.
"This momentum, combined with pricing initiatives planned for mid-year, should result in improving business revenue trends,” he said in the statement.
A conference call is scheduled for 7:30 a.m. Thursday. It can be accessed by calling (877) 374-3977 and using ID 24524892. A replay will be available after 10:30 a.m. through May 15 by calling (855) 859-2056 and using ID 24524892.