CTC is being purchased by Windstream, the former wireline operations of Alltel. Here are the financials of CTCI for 2Q07:
- Operating revenue increased 5% to $46.3 million vs. year ago quarter
- 25% increase in broadband customers from second quarter last year
- Operating income was $4.7 million in the second quarter of 2007
Read the rest at MSN.
Meanwhile, Alltel, which will go private, saw profits drop 50%!
Alltel, which has accepted a $24.7 billion buyout offer [in a a proposed $71.50-a-share buyout by TPG Capital, formerly Texas Pacific Group, and GS Capital Partners, a subsidiary of Goldman Sachs], earned $195 million, or 56 cents a share, in the three months ended June 30, down from $428 million, or $1.10 per share, a year ago.... The year-ago results included income from the company's traditional phone operations, which were spun off in July 2006 to form Windstream Corp. [businessweek]
Alltel by the numbers:
- Alltel @ 12M subs is the 5th cellco, after Ma Bell, VZW, Sprint, and T-Mobile.
- "reported gaining 181,000 new contract customers" in the last quarter.
- quarterly earnings were $195M
- Revenue was $2.18B
Those numbers are pitiful really. Earnings are just 10% of revenue. The new subs account for 1.5% increase. No wonder they want to go private.
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