With sales boosted by acquisitions, Windstream, which provides telephone and broadband services in Lexington, announced Tuesday an increase in fourth-quarter and annual revenue.
The company, based in Little Rock, Ark., generated $1.54 billion in sales in the fourth quarter, up 28 percent from $1.21 billion for the same period in 2011. Net income jumped to $10.1 million, or 2 cents a share, from a year-ago loss of $34.7 million, or 7 cents a share, which was linked to issues including a pension-accounting change and early retirement of debt.
The company continued its shift toward focusing on business revenues and broadband for consumers as it seeks to expand from its reliance on land-line telephone access.
"We made significant progress on key initiatives in 2012 that will further strengthen our business," CEO Jeff Gardner said in a statement.
Land-line telephone access continued to see declines as the company ended the quarter with 1.84 million voice lines, down from 1.93 million a year ago.
Had Windstream owned its newest businesses at this time last year, overall quarterly revenue would have declined 2 percent year over year. Business service revenues, though, would have risen 3 percent to $917 million, while consumer broadband sales would have increased 5 percent to $116 million. Business and consumer broadband revenues accounted for about 70 percent of the company's total sales in the fourth quarter.
For the full year, the company's sales jumped 44 percent to $6.16 billion from $4.28 billion in 2011. Net income was $168 million, or 28 cents a share, down slightly from $170 million, or 32 cents a share, in 2011.
Scott Sloan: (859) 231-1447. Twitter: @HeraldLeaderBiz