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US FairPoint Communications reports USD37.3m loss in Q3  Join our daily free Newsletter

MENAFN - 04/11/2012

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(MENAFN) North Carolina-based FairPoint Communications Inc. reported a lower quarterly loss on lower operating expenses, Business Journals reported.

The company provides telecommunications services in Maine, New Hampshire and Vermont.

The company said it booked USD37.3 million net loss during the third quarter, which is narrower than USD279.4 million loss a year earlier.

FairPoint recognized a non-cash impairment of intangible assets and goodwill in last year's quarter.

The company also reported USD242.1 million revenue in the third quarter, down from USD257.9 million a year ago, mainly due to a loss of voice access lines.

Data and Internet services revenue grew 12 percent from a year ago.

Operating expenses, excluding depreciation, amortization and reorganization, declined to USD186.4 million in the quarter from USD213.5 million a year earlier.

CEO Paul Sunu said in a statement that the company managed to repay USD25 million of debt in the quarter.

 






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