Shenandoah Telecommunications reports more net income in 4Q 2012
Mar 01, 2013 (TELECOMWORLDWIRE via COMTEX) --
Shenandoah Telecommunications Company (NASDAQ: SHEN) said that for the quarter ended December 31, 2012, net income from continuing operations was USD5.1 million compared to USD3.8 million in the fourth quarter of 2011.
Operating income for the fourth quarter of 2012 was USD9.3 million, up USD1.3 million or 16% from the fourth quarter of 2011.
Total revenues for the fourth quarter of 2012 were USD75.0 million, an increase of USD8.5 million or 12.8% compared to USD66.5 million for the 2011 fourth quarter. Increases in PCS and cable RGU counts, combined with increases in the monthly revenue per customer across all segments, accounted for the growth in revenues.
Overall operating expenses increased USD7.2 million, or 12.4%, to USD65.7 million in fourth quarter 2012. Wireless segment operating expenses decreased USD6.0 million, principally due to the USD11.8 million of prepaid expense reduction that, if effective in prior periods, would have been recognized in prior quarters of 2012 as well as in fiscal years 2011 and 2010. Cable segment operating expenses increased USD12.6 million, or USD1.6 million excluding the goodwill impairment charge. Wireline segment operating expenses increased USD1.3 million.
Shenandoah Telecommunications is a holding company that provides a broad range of telecommunications services through its operating subsidiaries. The company's operating subsidiaries provide local and long distance telephone, Internet and data services, cable television, wireless voice and data services, alarm monitoring, and telecommunications equipment, along with many other associated solutions in the Mid-Atlantic United States.
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