Shenandoah Telecommunications Q3 net income decreases
Nov 07, 2012 (Datamonitor via COMTEX) --
Shenandoah Telecommunications Company, a provider of advanced broadband services, digital TV, high-speed internet and phone services, has reported that net income for the third quarter ended September 30, 2012 was $1.36 million, or $0.06 per share, compared to $3 million, or $0.13 per share, for the same quarter ended September 30, 2011.
Revenues for the third quarter ended September 30, 2012 were $72.88 million, compared to $62.66 million for the same quarter ended September 30, 2011.
Net income for the nine months ended September 30, 2012 was $11.39 million, or $0.47 per share, compared to $9.02 million, or $0.38 per share, for the same period ended September 30, 2011.
Revenues for the nine months ended September 30, 2012 were $213.08 million, compared to $184.64 million for the same period ended September 30, 2011.
President and CEO, Christopher French commented, "We are pleased with this quarter's increase in revenue which indicates continued demand for our services. Our comparative results for this quarter were unfavorably impacted by several transactions and events that should either not be repeated or have a substantially reduced impact next quarter. We continued to make progress on the upgrade of our wireless network to offer 4G LTE service as part of Sprint Nextel's Network Vision project."
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