Telecommunications services provider Windstream Corp. (WIN: Quote) Wednesday posted a fourth-quarter net loss of $31.9 million or $0.06 per share, compared to a net income of $56.5 million or $0.10 per share in the previous year.
The company said its quarterly results included a pre-tax non-cash pension charge of about $163 million, or $103 million after-tax, due to previously announced changes in the company's pension accounting method.
In addition, results also included nearly $23 million in after-tax merger and integration expense and an after-tax loss of about $7 million related to the early extinguishment of debt. Excluding items, adjusted earnings per share for the recent quarter was $0.19.
On average, 15 analysts polled by Thomson Reuters estimated earnings of $0.20 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues and sales grew to $1.21 billion from $980.6 million a year ago. Analysts estimated revenues of $1.10 billion.
Pro forma total revenues, which included results for PAETEC and other recent acquisitions, were $1.6 billion, an increase of 0.7 percent over the same period a year ago.
Jeff Gardner, president and chief executive officer of the company said, "As a result of solid execution in our legacy business, coupled with our targeted acquisition approach, we significantly improved the financial trajectory of our company and reached a significant milestone of growing pro forma revenue and Adjusted OIBDA during the fourth quarter on a year-over-year basis, giving us great momentum heading into 2012."
Looking ahead to the full year 2012, the company expects pro forma revenues and sales in the range of $6.18 billion to $6.305 billion. Analysts are looking for revenues of $6.25 billion for the year.
| || |
| To receive FREE breaking news email alerts for Windstream Corporation and others in your portfolio|
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org