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Broadwing announced its first quarter 2006 financial and operational results
May 2, 2006
AUSTIN, Texas -- Broadwing Corporation (NASDAQ:BWNG), a leading provider of optical network communications services and solutions, today announced its first quarter 2006 financial and operational results.
For the first quarter 2006, Broadwing reported total revenue of $224.0 million, compared to $220.0 million reported for the fourth quarter 2005 and $218.3 million for the first quarter 2005. Net loss for the quarter was $20.0 million, or a loss of $0.26 per share. This compares to a net loss for the fourth quarter 2005 of $21.1 million, or $0.29 per share; and a net loss for the first quarter 2005 of $43.5 million, or $0.62 per share.
Selected Highlights:
Total revenue increased 2% sequentially and 3% year-over-year, despite industry-wide trend of pressure on legacy products
Data/broadband revenue increased 2% sequentially and 14% year-over-year, with the year-over-year increase primarily due to an increase in broadband transport
Operating loss for the first quarter narrowed 48% year-over-year to $19.0 million
Net loss for the first quarter narrowed 54% year-over-year. Net loss improvement year-over-year was primarily attributable to revenue growth, network cost improvements, and Focal integration.
"Broadwing continued to make steady progress toward profitability, significantly narrowing our net loss year-over-year, increasing total revenue and holding the line on cost of service," said Lynn Anderson, chief financial officer of Broadwing. "Broadband transport services continued to contribute in the first quarter to our year-over-year revenue growth, while sales of newly introduced Converged Services continue to ramp nicely according to our plan."
Broadwing Corp. (Nasdaq: BWNG)
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