TW Telecom Inc. (TWTC) Monday said its first-quarter profit declined, primarily reflecting a decrease in M-EBITDA, largely attributable to the annual resetting of payroll taxes, as well as an increase in stock-based compensation expense.
Net income for the first-quarter was $13.1 million or $0.09 per share, down from $19.3 million or $0.13 per share in the comparable quarter last year. On average, 16 analysts polled by Thomson Reuters expected the company to earn $0.11 per share for the quarter. Analysts' estimates typically exclude special items.
Meanwhile, revenues totaled $381.21 million, up 6.2 percent from $358.93 million last year, while thirteen analysts had consensus revenue estimate of $382.65 million for the quarter.
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