Hawaiian Telcom surfs directory sale to profit

Hawaiian Telcom Communications posted fourth-quarter 2007 net income of about $110 million, way up from a $30 million loss for the same quarter in 2006. The telco also reported $117 million in profit for the full year of 2007, which also was far removed from a $145 million loss in 2006. However, in both cases, much of the improvement came from the fourth-quarter $435 million sale of the carrier's directory unit to Colorado company Local Insight Media. The telco continues to work on customer service and billing improvements following a difficult period since Hawaiian Telcom's acquisition by Carlyle Group in 2005.

For more:
- check out this coverage [1] at The Honolulu Star Bulletin

Related article:
- Carlyle's purchase and the subsequent problems at Hawaiian Telcom [2] were the subject of recent scrutiny