Independent telco Consolidated Communications Holdings of Matoon, Ill., reported third quarter earnings that included net income of $5 million against $2.3 million for the same quarter in 2007. The company also said revenue was up to $103.8 million for the quarter, against $80 million a year ago. Overall results were helped by the company's acquisition of the North Pittsburgh Telephone Co.
The company, which also operates markets in Texas and Illinois, said it took in $1.2 million in recovery expenses related to Hurricane Ike. Among service trends, Consolidated said triple play bundle acceptance helped drive line loss to its lowest rate in two years. Overall, local access lines decreased during the third quarter by about 6.9 percent to 270,352. However, VoIP lines were up 154 percent to 5,739, and IPTV subscribers grew by 39.7 percent to 15,454.
Consolidated Communications has been mentioned recently as a potential player in further rural telco consolidation, a trend which may now pick up after CenturyTel's deal to acquire Embarq.
- Consolidated Communications issued this press release
Could Consolidated partake in further telco consolidation?