Cincinnati Bell: Q2 earnings were up, but income declined

Following plans to reduce its workforce during the first quarter, Cincinnati Bell reported that second-quarter 2009 earnings were $26 million, or 11 cents per diluted share, an 18 percent increase over Q2 2008. At the same time, the ILEC's revenues fell 7 percent compared to the same period last year, while operating income decreased 5 percent to $4 million.  

During the quarter Cincinnati Bell reported that it saw a 4 percent decrease in quarterly wireline revenue to $194 million, while operating income was $76 million compared to $80 million in Q2 2008. There were no major surprises with landline loss. For the quarter, Cincinnati Bell said that year-over-year total access line loss was 6.6 percent, a slight improvement from the first quarter of 2009. Landline loss in its traditional serving area was partially offset by growth from its residential and business access lines in the ILEC's expansion markets.  

For more:
- Here's the official release

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