Hawaiian Telcom (Nasdaq: HCOM) has continued to establish itself as a more financially stable service provider, a path recognized by its addition Friday to the Wilshire 5000 Total Market Index.
The service provider's stock closed Tuesday down 26 cents, at $16.49.
The incumbent telco was officially added following the close of the markets on Friday, Feb. 17, alongside the regular monthly adjustments to the stocks that are listed on the Wilshire 5000.
Eric K. Yeaman, Hawaiian Telcom's president and CEO, said in a statement that "The addition of Hawaiian Telcom to the Wilshire 5000 will enhance our visibility within the investment community and provide an opportunity to broaden our shareholder base."
Hawaiian Telcom's index listing follows its recent move to refinance its existing credit facility, one that will help lower its interest expense.
Since coming out of bankruptcy protection in 2010, the service provider has been working to increase its revenue potential through targeted consumer and business service initiatives.
Despite seeing obvious declines in its voice services business, the service provider reported in Q3 2011 a 4.2 percent year-over-year increase in DSL broadband subscribers. At the same time, the telco reported video sales penetration of about 10 percent of marketable homes on Oahu.
On the business side, the ongoing rollout of new enhanced services including Ethernet access to Dedicated Internet Access (DIA) service via its copper and fiber facilities and new VoIP services drove up business revenues 7.7 percent year-over-year. Hawaiian Telcom will release its Q4 2011 results in early March.
For more:
- see the release
Special report: Stepping to the EoC plate: Incumbent telcos take a swing
Related articles:
Hawaiian Telcom refinances its existing credit facility
Hawaiian Telcom's reorganization plan gets PUC approval
Hawaiian Telcom lays out new union employment terms, but expects legal challenge
Hawaiian Telcom stays mum about its IPTV strategy