Taking a page from the much larger ILEC Qwest, Cincinnati Bell's third-quarter 09 earnings were also boosted by tighter spending patterns and higher data service revenues.
One area of improvement for the ILEC was net income, which for the three months ending September 30th increased five percent from $26.6 million in 2008 to $28 million. During the third quarter, Cincinnati Bell shelled out $25 million to purchase 7 million shares. The integrated wireless/wireline provider reduced outstanding shares 18 percent since 2007.
There were of course some losses. While company revenue declined 3 percent to $338 million from $347 million in 2008, it was up 7 percent from Q2 09. Typical of all the ILECs in the third quarter, Cincinnati Bell saw 6.8 percent in access line losses and its traditional wireline revenue decline by $10 million to $191 million since last year. However, the company's cost-cutting measures helped it save $8 million a quarter.
- Cincinnati.com has this article
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