Expansion cuts into Hawaiian Telcom's earnings

By Alan Yonan Jr.

POSTED: 01:30 a.m. HST, Nov 09, 2012

~~<p>Costs associated with the expansion of Hawaiian Telcom's broadband network weighed on third-quarter earnings even as the company reported solid gains in its television and high-speed Internet services.</p>
<p>The state's largest phone company reported Thursday that it had net income of $5.6 million, or 52 cents a share, in the July-to-September quarter, down 24 percent from $7.4 million, or 68 cents a share, in the same period a year earlier. Company officials attributed the decline primarily to a $1 million increase in depreciation and amortization related to investments made in its broadband network, which involves laying of fiber-optic cables.</p>
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Costs associated with the expansion of Hawaiian Telcom's broadband network weighed on third-quarter earnings even as the company reported solid gains in its television and high-speed Internet services.

The state's largest phone company reported Thursday that it had net income of $5.6 million, or 52 cents a share, in the July-to-September quarter, down 24 percent from $7.4 million, or 68 cents a share, in the same period a year earlier. Company officials attributed the decline primarily to a $1 million increase in depreciation and amortization related to investments made in its broadband network, which involves laying of fiber-optic cables. Login for more...