TDS Telecom, the Chicago-based independent telco that also owns U.S. Cellular, reported quarterly net income of about $231.7 million, more than triple last year's third quarter figure of around $75 million. With operating revenue in its wireline unit declining about 2.6%, most of that growth came from wireless. No surprise there, but TDS did add about 1700 wireline access lines during the quarter as it continues to roll out DSL.
Meanwhile, another independent telco, Citizens Communications, of Stamford, Conn., reported third quarter net income that was down to $47.4 million from about $128.5 million for the same quarter last year. Revenue was up 14% to almost $576 million, but the quarter also included a roughly $12 million charge for severance and early retirement costs.
For more:
- Here's the press release from TDS Telecom at CNN Money
- CNN Money also has the Associated Press report on Citizens