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SureWest swings to Q1 loss

Fri, 04/29/2011 - 8:35am
Brian Santo

SureWest Communications reported a 1 percent increase in first-quarter revenue, with growth in broadband business services, including cell backhaul, compensating for a decline in telephony subsidies.

Revenue growth didn't increase enough to also compensate for some one-time charges, however. SureWest reported a first-quarter net loss of $1.6 million, compared with a profit of $1.9 million in the immediately preceding fourth quarter.

Broadband business revenues increased 19 percent year-over-year, driven by increases in customers and ARPU due to the success of wireless carrier backhaul and continued Kansas City business market growth, the company said.

Broadband residential revenues increased 3 percent year-over-year due to 2 percent subscriber growth (including 1,300 video subs) and a 5 percent increase in RGUs from growth in advanced digital TV and high-speed Internet, SureWest reported.

Steve Oldham, SureWest's president and chief executive officer, said: "We are still early in the growth cycle for advanced digital TV and wireless carrier backhaul services, and our fiber network continues to over-perform to meet increasing bandwidth demands from customers. Adding new fiber homes in Kansas City and expanding Advanced Digital TV in Sacramento, combined with increases in revenue per customer, will drive further growth and long-term sustainable free cash flow."

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