Monday, May 15, 2006

ITC drops more than name

Telephony mag reports: "A month after shortening its name from ITC^Deltacom to Deltacom, the competitive carrier’s first-quarter earnings came up short as well. The East Coast carrier’s first-quarter operating revenue was down nearly 13% from a year earlier (and down 0.5% sequentially) to just under $120 million. And its net loss increased 263% from a year earlier to nearly $15 million." OOPS! They lost UNE-P (lots of Resi lines) and sold off the managed service biz. Deltacom has "$318.5 million in long-term debt is based on a variable annual rate."

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