Communications Sales & Leasing Inc., a real estate investment trust spun off by Little Rock-based telecom Windstream Holdings Inc. on April 24, reported net income of $8.3 million for its partial second quarter.
The profit, recorded for the period from the trust’s April 24 inception to June 30, came to 5 cents per share. Total revenue came to $128.7 million, trust executives said.
CS&L was created through the spinoff of some Windstream telecommunications assets, including 3.6 million strand miles of fiber, 235,000 route miles of copper, and central office land and buildings in 29 states, the company says. Windstream operates those assets through a long-term, triple-net lease with CS&L.
"We are extremely pleased with the successful launch of CS&L as an independent publicly traded REIT," President and CEO Kenny Gunderman said in a statement. "We have developed a strong pipeline of acquisition and capital funding opportunities, and believe we are well positioned to create substantial shareholder value as we grow and diversify our portfolio."
Executives for the Little Rock-based triple-net-lease real estate investment trust will hold a conference call at 10 a.m. Thursday to discuss the earnings release. Those interested may listen in by calling (855) 542-4218 and using the conference ID 85886090. The conference call will be webcast live at www.cslreit.com.