Sunday, February 11, 2007

Embarq in the 4Q

MarketWatch reports: "Embarq Corp. said Thursday that fourth-quarter profit rose 25% as the company added more high-speed Internet subscribers and lost fewer local-phone customers than expected..... The company ended 2006 with 6.9 million access lines in service, a 6.1% decline.....In the fourth quarter, Embarq matched a prior record by adding 84,000 high-speed Internet customers to top the 1 million mark....The company also gained 24,000 wireless customers to double its total to 48,000. And Embarq signed up 16,000 subscribers for The Dish Network's satellite-television service, bringing its total to 162,000."

Earnings were $194M for the quarter..... But you have to deduct the onetime gain of $34 million from the settlement of billing disputes and a $7 million pretax gain from the sale of 5,000 access lines.

"EMBARQ reported net operating revenues of $1.62 billion in the fourth quarter of 2006 and $6.36 billion for the full year." [earthtimes]

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