Telecom company reports earnings up 66 percent for quarter

MATTOON – Consolidated Communications Holdings Inc. said third-quarter earnings were 66 percent higher than the same quarter a year ago.

The Mattoon-based telecommunications company said net income for the quarter that ended Sept. 30 was $11.97 million, up from $7.28 million a year earlier. Earnings attributable to the company amounted to 40 cents a share, up from 24 cents a share a year earlier.

For the first nine months of 2010, net income totaled $25.81 million, up from $17.87 million a year earlier. Earnings for the nine-month period totaled 86 cents per share, up from 60 cents per share for the same period in 2009.

Third-quarter revenues shrank to $95.6 million from $101.6 million a year earlier, partly because of a decrease in the number of access lines.

But although Consolidated is seeing declines in the number of residential and business access lines, it's seeing increases in DSL subscribers, broadband connections, Voice over Internet Protocol and Internet Protocol TV subscribers.

In fact, it added more Internet Protocol TV subscribers in the third quarter than it added in any previous quarter.

Consolidated Communications provides voice, data and video services to customers in Illinois, Texas and Pennsylvania. Its services include local and long distance service, high-speed Internet access, digital TV and directory publishing.

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