Boston, MA 02/26/2014 (wallstreetpr) – Frontier Communication Corp (NASDAQ:FTR) clocked in a 52 week high after reporting better than expected results for its fourth quarter and full year, for the period ending December 31, 2013. Frontier fourth quarter profits doubled compared to the same period a year ago. The company’s Chief executive officer maintains the positive results were as a result of the company expanding its capabilities and services throughout the year.
Frontier Communication results analysis
Adjusted earnings for the fourth quarter beat consensus estimates by 1 cent coming in at 7 cents, an increase of 16.7% compared to a year ago earnings of 6 cents. Fourth quarter revenue came in at $1.18 billion beating Zacks consensus estimates of $1.17 billion but was a slight drop of 0.4 % compared to earnings for the same period a year ago. The fourth quarter revenues was heavily impacted by lower voice revenues and non-switched access revenues
Earnings per share for full year came in at 24 cents an amount that was lower compared to a year ago revenues of 26 cents. Revenues for full year came in at $4.76 billion a slip of 5% compared to F2012.
Frontier Communications operating income
Operating income for the fourth quarter improved by 9.3% to come in at $235.7 million with margins of 21.8% compared to a year ago margins of 19.1%
Liquidity
Cash and cash equivalents as of December 2013 stood at $880 million compared to $1.3 billion reported in December 2012. Long terms debt was the best performer in this case as it slipped to from highs of $8.4 billion in F2012 to lows of $7.8 billion. Capital expenditure for the full year came in at $634.7 million a drop compared to F2012 expenditure of $748.4 million
Frontier Communication Corp (NASDAQ:FTR) was up in Tuesday trading session by 10.68% to close at highs of $5.08.
