Feb 14, 2006 8:12 am US/Mountain
Qwest's Fourth-Quarter Loss Widens
DENVER (AP) ―
Qwest Communications International Inc., one of the nation's largest phone companies, on Tuesday posted a wider fourth-quarter loss on one-time items. But results excluding items topped Wall Street estimates on improved revenue, margins and cash flow.
The company's quarterly loss totaled $528 million, or 28 cents per share, compared with $139 million, or 8 cents per share, a year earlier. Excluding items, Qwest's latest results broke even, up from a loss of 4 cents per share.
Revenue edged up to $3.48 billion from $3.44 billion, helped by improved mass market and business results, including $15 million in revenue from a government contract.
Analysts polled by Thomson Financial expected a loss of 5 cents per share on $3.49 billion in revenue.
"Revenue trends improved as a result of strong sales within Qwest's portfolio of growth products, including high-speed Internet, advanced data products, long-distance, and wireless, as well as bundles," the company said in a statement. "Qwest's growth businesses -- high-speed Internet, data, wireless and long-distance services -- contributed over 50 percent of revenue in the quarter compared with 45 percent two years ago."
For the full year, the company's loss narrowed to $779 million, or 42 cents per share, from $1.79 billion, or $1 per share, in the prior year. Revenue grew slightly to $13.9 billion from $13.8 billion.
(© 2006 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)
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