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February 25, 2014

Frontier's 4Q profits up on lower costs

Flickr user publicserviceequipmentfan

Stamford's Frontier Communications, which plans to buy AT&T’s Connecticut wireline business later this year, said it more than doubled its fourth-quarter profits on lower expenses and costs.

Profits were $67.8 million, or 7 cents a share, up from $24.9 million, or 2 cents, in the same quarter of last year.

The increase came despite revenue being essentially flat at $1.19 billion. The company reduced its operating expenses, depreciation and amortization costs, and acquisition and integration costs.

For the year, Frontier netted $112.8 million, or 24 cents a share, down 17 percent from $136.6 million, or 22 cents, in 2012. Revenue declined by 5 percent to $4.76 billion.

Frontier sells broadband, voice and other offerings to customers in 27 states.

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