Frontier reports flat Q4
Frontier Communications reported fourth-quarter 2012 revenue of $1.2 billion, slightly down from the similar quarter last year, and net income of $24.9 million.
During the quarter, the company reported having lost approximately 50,400 customers as compared to 51,800 customers in the immediately preceding quarter and 65,700 customers in the similar period last year.
The company’s broadband customer net additions were approximately 5,300 during the fourth quarter of 2012. The Company had 1.7 million broadband customers as of December 31, 2012.
Frontier said it added 20,900 satellite TV customers and lost 2,800 FiOS video customers during the fourth quarter of 2012. The company had 346,600 video customers at the end of the quarter.
“During 2012, we successfully completed the integration of our July 2010 acquisition which tripled the size of the company,” said Maggie Wilderotter, chairman and CEO of Frontier Communications. “We completed all of the system conversions, achieved cost savings of over $650 million, dramatically improved our network’s speed and capacity and have identified additional cost reductions of $140 million for achievement in 2013 related to continuing operational streamlining which will be partially offset by investments in growth initiatives.”
For the full year of 2013, Frontier said it expects capital expenditures to be in the range of $625 million to $675 million.