Centennial Communications Corp fka CYCL

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Centennial Communications Announces Fiscal Fourth-Quarter and Full-Year Results; Consolidated Annual Revenue Exceeds $1 Billion
Date : 07/30/2008 @ 7:00AM
Source : MarketWire
Stock : Centennial Communications Corp. (CYCL)
Quote : 7.94 -0.01 (-0.13%) @ 8:00PM


Centennial Communications Announces Fiscal Fourth-Quarter and Full-Year Results; Consolidated Annual Revenue Exceeds $1 Billion





WALL, NJ ("Centennial") today reported income from continuing operations of $13.6 million, or $0.12 per diluted share, for the fiscal fourth quarter of 2008 as compared to income from continuing operations of $5.9 million, or $0.05 per diluted share, in the fiscal fourth quarter of 2007. Consolidated adjusted operating income (AOI)(1) from continuing operations for the fiscal fourth quarter was $109.0 million, as compared to $98.1 million for the adjusted prior-year quarter. For comparison, the Company's fiscal 2007 financial results have been adjusted to reflect the Universal Service Fund (USF) charge (2) in the period to which it relates.




"In the U.S., we move into fiscal 2009 with a high-quality customer base that supports strong retail cash flow growth," said Michael J. Small, Centennial's chief executive officer. "We'll continue to invest in our network, retail distribution presence and front-line Associates to showcase our strengths."



Small continued, "In Puerto Rico, we've introduced new unlimited rate plans to give our customers a full menu of choices, and we'll make targeted investments in fiscal 2009 to fortify a good competitive position by emphasizing our premium brand with customers who are heavy users of wireless service. We're also leveraging our strong collection of assets in the residential and enterprise markets to capitalize on emerging bandwidth growth in a way that very few players can."



Centennial reported fiscal fourth-quarter consolidated revenue from continuing operations of $258.7 million, which included $142.5 million from U.S. wireless and $116.2 million from Puerto Rico operations. Consolidated revenue from continuing operations grew 9 percent versus the adjusted fiscal fourth quarter of 2007. The Company ended the quarter with 1,092,600 total wireless subscribers, which compares to 1,049,600 for the year-ago quarter and 1,086,300 for the previous quarter ended February 29, 2008. The Company reported 582,200 total access lines and equivalents at the end of the fiscal fourth quarter, which compares to 502,100 for the year-ago quarter.