CenturyTel revenues jump with acquisitions
CenturyTel today announced a third-quarter earnings jump of 11.8% to $539.4 million, most of which was attributable to the recently-closed acquisition of local-access lines from Verizon.
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Telephone revenues for quarter grew to $377.7 million, a $53.1 million or 16.4% increase compared to the third quarter 2000. The 493,000 access lines acquired from Verizon during 2000 contributed $46.4 million of that increase. Last week, CenturyTel announced another deal to buy 675,000 access lines from Verizon.
Consolidated revenues for the quarter rose to $539.4 million from $482.6 million in the previous quarter.
Glen Post, president and CEO of CenturyTel, said the company continues to evaluate bids for its wireless properties but has yet to reach a decision. Additionally, Post refused to comment on Alltel’s standing offer to buy CenturyTel, which has been rejected the CenturyTel board.
--Vince Vittore, executive editor
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© 2012 Penton Media Inc.
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