StarBulletin.com

Hawaiian Telcom loses $35 million in third quarter


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POSTED: Friday, November 14, 2008

Hawaiian Telcom Communications Inc. continues to struggle, suffering even larger losses in the third quarter compared to the second.

The company lost $34.6 million for the three months ending Sept. 30, a deeper loss than the $29.5 million loss recorded the same quarter last year. Third-quarter earnings were $33 million, down from $40.2 million last year

Revenue in the third quarter was down in all categories, from local services to long-distance services, network access, and high-speed internet.

The following are highlights for the third quarter:

     
  • Consolidated operating revenue was $112.3 million, 2.6 percent below that of the prior quarter, and 6.7 percent lower than the third quarter of last year.
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  • Local services revenue was $48.2 million, down 1.9 percent from the prior quarter and down 7.7 percent from the same quarter of last year, due primarily to declines in switched access lines, or land lines.
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  • Long-distance services revenue was $8.5 million, down 11 percent versus the prior quarter, and 16.8 percent lower than the same time a year ago.
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  • HIgh-speed Internet revenue was $8.2 million, down about 6 percent compared to both the prior quarter and same quarter last year.