Windstream profits down 12%

11 Aug 2008

US wireline operator Windstream Corp has posted a 12% drop in second-quarter net income to USD102 million on the back of continuing subscriber losses and accounting measures associated with the sale of its stake in a cellular joint venture. Revenues fell back 3% to USD799.9 million. The total number of access lines in service decreased by 37,000 in the three months to the end of June to 3.12 million. The fall was only partially offset by the addition of 23,000 net new customers at the broadband internet segment. Windstream has lowered its forecasts for full-year capital expenditures; it now expects CAPEX to stand at between USD300 million and USD320 million, down from its initial forecasts of USD340 million-USD370 million.

United States, Windstream Communications