Frontier Communications has posted an 11% year-on-year increase in third quarter net income, up to USD52.16 million, as the company lowered costs in the face of falling revenue. Revenues for the period fell from USD557.87 million in the third quarter of 2008 to USD526.8 million a year later, while the company reported a 10% drop in operating costs, down to USD354 million for the three months ended 30 September 2009. The operator cut its capital expenditure by 33% year-on-year, spending USD54 million in the quarter, while also trimming its workforce by 324 employees, or 6%. Maggie Wilderotter, Frontier Communications CEO, said: ‘We delivered strong profitability in the third quarter of 2009, driven by improved performance in our customer metrics and disciplined cost control.’
The company had a total of 2.15 million access lines at the end of September 2009, down 6% year-on-year from 2.29 million. Total switched access minutes of use, meanwhile, fell by 14% down from 2.52 billion in Q308, to 2.17 billion twelve months later. However, the company reported growth in its data operations, ending the period with 621,331 broadband subscribers and 164,535 video customers, up 9% and 46% respectively.