POSTED: 9:18 a.m. HST, May 7, 2014
LAST UPDATED: 5:23 p.m. HST, May 7, 2014
Hawaiian Telcom boosted its earnings by 33 percent in the first quarter of this year, helped by an increase in revenue from its video and high-speed internet services, the company reported Wednesday.
Net income grew to $2.4 million, or 21 cents a share from January-through-March compared with $1.8 million, or 17 cents a share from the same period a year earlier.
Overall revenue grew by $1.1 million to $97.1 million from a year earlier. Consumer revenue increased by 3.4 percent to $35.8 million, led by a gains of $2.6 million and $900,000 in video and high speed internet respectively.
"Our first quarter performance demonstrates a solid start to the year, highlighted by continued expansion of our next-generation fiber network and growth in Hawaiian Telcom TV subscribers," said Eric Yeaman, Hawaiian Telcom's president and chief executive officer.
Hawaiian Telcom's shares closed down 44 cents at $26.06 Wednesday on the Nasdaq Global Select Market.