Lots of earnings news from network operators this morning, here's a quick look at five:
Cogent posted revenues of $108.3M, up 3% sequentially and 11.4% over the same period last year and just a hair above analyst projections. EBITDA hit $35.6M, which was down 3% sequentially but up 14% over the same period last year, while earnings per share of 0.08 were a penny higher han anticipated. The company added another 20 on-net buildings during the quarter, somewhat slower than their usual pace. And of course Cogent increased its quarterly devidend another penny to $0.37.
Lumos Networks continued to churn forward with revenues of $50.8M and adjusted EBITDA of 23.1M. The company is actively seeking to separate out its pure-play fiber business, and has consultants 'fully engaged' and should have a better idea of the path forward in six months. Fiber-to-the-Cell and Enterprise revenue were up 19% over last year, with some 1,598 cell sites now on-net. The company lit connections to 80 enterprises during the quarter, and it's expansion to Norfolk is now operational. Capital expenditures pulled back somewhat from the previous pace to $22M during the quarter.
Consolidated Communications posted revenues of $188.8M with adjusted EBITDA of $78.6M and earnings per share of $0.19. They have been shifting around their portfolio lately, buying Champaign Telephone Company last month while selling off one of their RLEC businesses yesterday. Meanwhile, today they expanded their business cloud offering into the metros of Sacramento, Dallas, Houston, Kansas City, Mattoon Illinois, and Pittsburgh.
GTT saw revenue surge up to $124.4M, gaining from a full quarter of the acquired One Source Networks business, the integration of which they have now completed, as well as some solid organic growth. Adjusted EBITDA rose to $28.9M, while earnings per share came in at $0.02, right where analysts thought it would. Last year the company announced its new target of $1B in revenues, and I suspect they've got some inorganic expansion in mind for this year.
And Windstream posted revenues of $1.37B with adjusted OIBDAR of $485M. Enterprise revenues were up 3% over the same period last year, while small business CLEC revenues were down 12%. Carrier services were down 7% as legacy revenues churning off continued to more than offset the revenues they have been ramping up on their nextgen backbone.
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