Stamford, Conn.-based Frontier Communications reported fourth-quarter earnings that included a 5 percent drop in revenue to $547.4 million, and a 42 percent slide in quarterly net income to about $34.3 million. The telco lost just over 42,000 access lines during the quarter, and now has about 2.25 million total lines.
On the plus side, monthly customer revenue per access line increased about 5 percent, and the company added about 7,600 video customers and 8,500 broadband Internet customers during the quarter. Frontier also finished 2008 with free cash flow of $493 million, and recently announced a first-quarter dividend. For the full year of 2008, revenue was down 2 percent, and net income was down about 15 percent.
Frontier CEO Maggie Wilderotter also said that first-quarter marketing promotions were thus far delivering strong results for both video and high speed bundle sales. "We are off to a solid start for the year," she said in the Frontier earnings statement.
- Here's Frontier's press release
Frontier recently made a case for the importance of rural broadband
Frontier reported broadband growth in the second quarter last year