POSTED: 9:51 a.m. HST, Mar 15, 2012
LAST UPDATED: 3:07 p.m. HST, Mar 15, 2012
Hawaiian Telcom today reported its fourth consecutive quarter of profitability since emerging from bankruptcy last fall, boosting its full-year net earnings to $26.2 million in 2011.
Revenue in the October-through-December quarter totaled $98.9 million, down slightly from $100.1 million in the same three-month period a year earlier. The $1.2 million decline was primarily due to a loss of land lines, which was partially offset by an increase in equipment sales and growth from high-speed Internet subscriptions and Internet-based business services, the company said in a news release.
Hawaiian Telcom also reported strong demand for its new Internet television service that was launched last January. The company ended the year with about 1,600 subscribers, or nearly 6 percent of the households that are capable of receiving the service.
“2011 was an important year in which we took key steps to improve our growth profile and continue our transformation into a next-generation communications company,” said Eric Yeaman, Hawaiian Telcom’s president and chief executive officer.