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SureWest boosts revenues in Q2

Thu, 08/07/2008 - 8:25am
Traci Patterson

SureWest Communications reported consolidated revenues of $60.3 million in its second quarter of 2008, an increase of 36 percent year-over-year and a 17 percent increase sequentially.

SureWest Communications reported consolidated revenues of $60.3 million in its second quarter of 2008, an increase of 36 percent year-over-year and a 17 percent increase sequentially.

The operator’s net income increased to $20.9 million in the quarter, compared with $1.5 million a year ago; $19 million was due to the sale of SureWest Wireless to Verizon Wireless in the second quarter, the company said.

Consolidated voice revenue-generating units (RGUs) decreased by 1 percent sequentially. But the company said that 1,400 of the 3,900 sequential telecom voice losses migrated to the new VoIP Broadband product. And 1,400 additional broadband voice RGUs were added in the quarter, making the total additions 2,800.

Broadband residential RGUs increased 7 percent year-over-year and 3 percent sequentially, and subscribers grew 6 percent year-over-year and 2 percent sequentially. Total video RGUs increased by 4,000 year-over-year.

Steve Oldham, SureWest’s president and CEO, said; “It is clear that the decision we made several years ago to focus SureWest on broadband and advanced network services was the correct move, evidenced in part by our excellent second-quarter results. While still in the early stages of our long-term broadband growth strategy, we expect continued success moving forward.”

More Broadband Direct:

• Mediacom turns in profitable Q2

• DirecTV thrives with richer customers

• RCN ups revenue, RGUs in Q2

• SureWest boosts revenues in Q2

• Cisco easing NBC's Olympics coverage

• SCTE Foundation awards grant to Cox's Gutel

• Entone backs Panhandle IPTV upgrade

• Aspen offers to double GBIC bandwidth

• Broadband Briefs for 8/07/08

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