GCI Net Income Dips in 1Q
Alaskan cable and telecommunications provider GCI reported $1.5 million in net income (2 cents per share) during the first quarter, down from income of $3.3 million during the first quarter of 2006.
The company said it generated $124.6 million in revenue, up 10.4% from this time last year.
GCI said earnings before interest, taxes, depreciation, amortization and share-based compensation expense (EBITDAS) totaled $34 million, down $3.1 million, or 8.4%, from the first quarter of 2006.
GCI said it generated consumer revenues of $53.3 million during the first quarter, an increase of 24.9% from the same period last year. It attributed the increases to video, data and wireless sales.
“Unfortunately, a very strong performance in the consumer business and dramatic growth in our customer metrics were offset by poor financial results,” GCI president Ron Duncan said in the earnings announcement.
The smarter way to stay on top of the multichannel video marketplace. Sign up below.