Seeing similar declines and increases as other Tier 2 ILECs, Windstream reported that second-quarter revenue slid to $91 million from $102 million during the same period last year. Company revenue declined 6 percent from $800 million to $753 million.
Not surprisingly, Windstream saw ongoing access line loss. During the quarter, Windstream lost about 41,000 access lines, a 5.5 percent year-over-year decrease. Despite its losses Windstream's broadband base continued to grow with the addition of 15,000 new high-speed Internet customers. This brings the ILEC's overall broadband base to 1,025,000 customers, a 10 percent year-over-year increase. Windstream's video penetration also increased during the quarter as it added 16,000 new digital TV customers.
In addition to the typical ups and downs it saw during the second quarter, Windstream got FCC approval of its acquisition of D&E Communications, a transaction that will expand its presence in Pennsylvania. Long the holdout in the rural telco acquisition race, Windstream expects to complete the merger in the fourth quarter of 2009 upon gaining approvals from D&E shareholders and the Pennsylvania Public Utilities Commission.
- see the official release
Windstream reaches 1M broadband customers
Windstream to buy D&E Communications for $330M
Windstream profit slides 29 percent