Rural telco CenturyTel reported fourth quarter 2008 operating revenue of USD642.6 million down 2.3% year-on-year. Net income for the same period, reported under GAAP, was USD100.1 million compared to USD115.0 million in fourth quarter 2007. Operating expenses, excluding nonrecurring items, decreased 3.0% to USD459.5 million from USD473.9 million in the same period twelve months previously.
For the full year 2008, operating revenues, excluding nonrecurring items, were USD2.598 billion compared to USD2.606 billion in 2007, a 0.3% decrease. Net income, under GAAP, for the full year 2008, was USD365.7 million compared to USD418.4 million for 2007.
The operator saw a 6.4% decline in its number of access lines from the fourth quarter last year, to end 2008 with slightly less than two million access lines. The number of high speed internet subscribers increased 15.5% on the year earlier quarter to 641,000 from 555,000.