SureWest Communications reported strong third-quarter-2005 numbers across the board Monday.
The high-speed-data and video-over-digital-subscriber-line provider said income from operations rose to $4.8 million from a loss of $1.5 million in the third quarter of 2004. Operating earnings before interest, taxes, depreciation and amortization rose 59% to $18.5 million from $11.7 million in the year-ago period. Net income was $2 million, or $0.13 per share, versus a loss of $1.6 million ($0.11) in the previous-year quarter.
SureWest added that broadband revenues rose 30% to $13 million and wireless revenues were up 9% to $8.8 million.
“Our cost-cutting initiatives are paying off and we are seeing the benefits of the reorganization undertaken earlier this year,” SureWest CEO Brian Strom said in a prepared statement. “Broadband and wireless are continuing to post excellent EBITDA improvements as a result of revenue growth and cost-containment efforts.”