HONOLULU, Aug. 5, 2013 (GLOBE NEWSWIRE) -- Hawaiian Telcom Holdco, Inc. (Nasdaq:HCOM) reported financial results for its second quarter ended June 30. The highlights are as follows:
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Revenue of $97.0 million grew by $2.3 million, or 2.4 percent, from $94.7 million in the prior year. Adjusted EBITDA(1) of $30.0 million grew 2.5 percent compared to the same period a year ago.
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Second quarter net income of $4.0 million, or $0.36 per diluted share, included a one-time $6.5 million gain from the sale of property, offset by a one-time $3.7 million loss on early extinguishment of debt in connection with the successful refinancing of its $300 million term loan.
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Consumer revenue increased 1.5 percent year-over-year to $34.8 million, driven by growth in video and high-speed Internet (HSI) revenue of $1.8 million and $0.9 million, respectively.
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Enabled 17,000 households in the quarter, achieving its two-year goal of 100,000 households enabled.
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Hawaiian Telcom TV subscribers more than doubled over the past year to approximately 13,600, resulting in penetration of approximately 14 percent of households enabled.
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Successfully refinanced its $300 million term loan, extending the maturity, lowering borrowing costs by $6 million annually, and providing added flexibility to execute its strategic plan and enhance shareholder value.
- Successfully completed a $13.9 million sale of a parcel of land on Oahu.
"I am pleased with our second quarter results and the continued expansion of our enhanced broadband network," said Eric K. Yeaman, Hawaiian Telcom's president and CEO. "We successfully executed on our goal to expand the reach of our enhanced broadband network to 100,000 households on Oahu by the second anniversary of our commercial launch of Hawaiian Telcom TV. This build-out gives us a solid foundation for future revenue growth in our consumer channel, which is expected to increase as we continue to deliver Hawaii's best home entertainment experience to more neighborhoods and homes every week.
"In the business channel, we continue to see growth in our IP-based services, driven by a 34 percent year-over-year increase in business data revenue, including revenue from our Wavecom Solutions Corporation subsidiary acquired in December 2012. In our wholesale channel, we continue to invest capital in Fiber-to-the-Tower (FTTT) projects, enabling our participation in the growing demand for wireless broadband. We now have 252 cell sites completed with 180 additional sites under contract to build, and we are currently pursuing over 40 additional sites.
"Our investments are transforming the Company and successfully repositioning us for the future. We have built a strong set of assets and have the right strategies to capitalize on the key opportunities that exist in our marketplace. I am confident about the Company's growth prospects and our ability to drive long-term shareholder value," concluded Yeaman.
Second Quarter 2013 Results
Second quarter revenue was $97.0 million, a 2.4 percent increase compared with $94.7 million in the second quarter of 2012. Revenue growth in the quarter was driven by video, HSI, and revenues related to the Wavecom acquisition, which more than offset the impact from a 2.1 percent decline in access lines. Adjusted EBITDA was $30.0 million, up 2.5 percent from the same period a year ago.
The Company generated net income of $4.0 million, or $0.36 per diluted share for the quarter, compared to $5.5 million, or $0.51 per diluted share in the same period a year ago. The decrease was primarily due to a one-time $3.7 million loss on early extinguishment of debt, a $2.5 million increase in depreciation and amortization, and a $2.5 million deferred tax provision, partially offset by a one-time $6.5 million gain from the sale of property.
Consumer Revenue
Second quarter consumer revenue totaled $34.8 million, up 1.5 percent year-over-year driven primarily by revenue growth from the Company's Hawaiian Telcom TV service. The increased reach of the Company's enhanced broadband network is the catalyst that is driving revenue growth in video and HSI services, which is more than offsetting declines from legacy services. The second quarter marked the fourth consecutive quarter of year-over-year growth in consumer revenue.
Video service revenue grew to $2.9 million for the quarter, up from $1.0 million in the same period a year ago, driven by the addition of over 7,200 subscribers to reach a total of approximately 13,600 subscribers at the end of the second quarter. Hawaiian Telcom TV average revenue per user (ARPU) was up approximately 12 percent year-over-year. For the quarter, 17,000 additional households were enabled, increasing the total number of households enabled to 100,000. Hawaiian Telcom TV penetration of households enabled was approximately 14 percent at the end of the second quarter.
Consumer HSI revenue also was up from the same period a year ago, led by a 4.3 percent year-over-year increase in consumer HSI subscribers to approximately 89,700, which was driven primarily by high HSI pull-through rates from new video subscribers, and standalone HSI subscriber additions. As of June 30, 2013, approximately 54 percent of all video subscribers had triple-play bundles and approximately 88 percent had double-, or triple-play bundles. Increases driven by next-generation consumer video and HSI services were partially offset by declines in legacy consumer access and long distance lines of 8.6 percent and 7.2 percent, respectively.
Business Revenue
Second quarter business revenue totaled $42.6 million, up 7.0 percent from the same period a year ago, primarily due to revenue added as a result of the Wavecom acquisition. Additionally, the increase in business revenue related to a $0.7 million year-over-year increase in equipment and managed services revenue and higher demand for IP-based data services. These increases were partially offset by the year-over-year decline in legacy business access and long distance revenues.
Wholesale Revenue
Second quarter wholesale revenue totaled $16.5 million, down 6.6 percent from the same period a year ago. Wholesale carrier data revenue declined $0.6 million year-over-year to $14.8 million, mainly due to the elimination of previously recognized revenue that related to services provided to Wavecom. Switched carrier access revenue declined $0.5 million year-over-year to $1.7 million, equally attributable to the overall declines in access lines and minutes of use, and the impact of intercarrier compensation reform.
Operating Expenses, Capital Expenditures and Liquidity
Operating expenses, exclusive of depreciation and amortization, one-time charges and non-cash stock compensation, increased 2.4 percent to $67.0 million, primarily due to increased direct cost of goods related to video and higher levels of equipment sales, partially offset by lower costs related to various vendor contracts.
Capital expenditures totaled $45.0 million in the six-months ended June 30, 2013, up from $41.2 million for the six-month period a year ago primarily due to investments in broadband network infrastructure and increased success-based spending to support the subscriber growth of Hawaiian Telcom TV and FTTT builds. Overall, capital expenditures for 2013 are expected to be in the range of $80.0 million to $83.0 million.
At the end of second quarter 2013, the Company had $58.4 million in cash and cash equivalents compared to $67.0 million at the end of 2012. The reduction is primarily related to $7.9 million of costs (including prepayment premium, original issue discount, and fees and expenses) associated with the refinancing of its $300 million term loan, temporary uses of working capital, mandatory debt prepayment, and higher capital expenditures, partially offset by $13.1 million of net proceeds received from the sale of a parcel of land. Net Debt(2) was $236.8 million, resulting in a Net Debt to Adjusted EBITDA ratio as of June 30, 2013 of 1.92x.
Conference Call
The Company will host a conference call to discuss its second quarter 2013 results at 8:00 a.m. (Hawaii Time), or 2:00 p.m. (Eastern Time) on Monday, August 5, 2013.
To access the call, participants should dial (877) 703-6103 (US/Canada), or (857) 244-7302 (International) ten minutes prior to the start of the call and enter passcode 72617937.
A live webcast of the conference call, including a slide presentation, will be available from the Investor Relations section of the Company's website at http://hawaiiantel.com. The webcast will be archived at the same location.
A telephonic replay of the conference call will be available one hour after the conclusion of the call until 11:59 p.m. (Eastern Time) August 12, 2013. Access the replay by dialing (888) 286-8010 and entering passcode 63553387. Alternatively, the replay can be accessed by dialing (617) 801-6888 and entering passcode 63553387.
Use of Non-GAAP Financial Measures
This press release contains information about adjusted earnings before interest, taxes, depreciation and amortization (Adjusted EBITDA) and Net Debt. These are non-GAAP financial measures used by Hawaiian Telcom management when evaluating results of operations. Management believes these measures also provide users of the financial statements with additional and useful comparisons of current results of operations with past and future periods. Non-GAAP financial measures should not be construed as being more important than comparable GAAP measures. Detailed reconciliations of Adjusted EBITDA and Net Debt to comparable GAAP financial measures have been included in the tables distributed with this release and are available in the Investor Relations section at www.hawaiiantel.com.
Forward-Looking Statements
In addition to historical information, this release includes certain statements and predictions that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, any statement, projection or estimate that includes or references the words "believes," "anticipates," "intends," "expected," or any similar expression falls within the safe harbor of forward-looking statements contained in the Reform Act. Actual results or outcomes may differ materially from those indicated or suggested by any such forward-looking statement for a variety of reasons, including, but not limited to, Hawaiian Telcom's ability to maintain its market position in communications services, including voice, video, Internet, data, wireless, and advanced communication and network services; general economic trends affecting the purchase or supply of communication services; world and national events that may affect the ability to provide services; changes in the regulatory environment; any rulings, orders or decrees that may be issued by any court or arbitrator; restrictions imposed under various credit facilities and debt instruments; work stoppages caused by labor disputes; adjustments resulting from year-end audit procedures; and Hawaiian Telcom's ability to develop and launch new products and services. More information on potential risks and uncertainties is available in recent filings with the Securities and Exchange Commission, including Hawaiian Telcom's 2012 Annual Report on Form 10-K. The information contained in this release is as of August 5, 2013. It is anticipated that subsequent events and developments may cause estimates to change, and the Company undertakes no duty to update forward-looking statements.
About Hawaiian Telcom
Hawaiian Telcom Holdco, Inc., headquartered in Honolulu, is Hawaii's leading provider of integrated communications and entertainment solutions for business and residential customers. With roots in Hawaii beginning in 1883, the Company offers a full range of services including voice, video, Internet, data, wireless, and advanced communication and network services supported by the reach and reliability of its network and Hawaii's only 24/7 state-of-the-art network operations center. With employees statewide sharing a commitment to innovation and a passion for delivering superior service, Hawaiian Telcom provides an Always OnSM customer experience. For more information, visit www.hawaiiantel.com.
The Hawaiian Telcom Holdco, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10087
(1) Adjusted EBITDA is EBITDA plus non-recurring costs not expected to occur regularly in the ordinary course of business. EBITDA is defined as net income plus interest expense (net of interest income and other), income taxes, depreciation and amortization, non-cash stock compensation and gain on sale of property. The Company believes both of these non-GAAP measures, Adjusted EBITDA and EBITDA, are meaningful performance measures for investors because they are used by our Board and management to evaluate performance, enhance comparability between periods and make operating decisions. Our use of Adjusted EBITDA and EBITDA may not be comparable to similarly titled measures used by other companies in the telecommunications industry. A detailed reconciliation of Adjusted EBITDA to comparable GAAP financial measures has been included in the tables distributed with this release.
(2) Net Debt provides a useful measure of liquidity and financial health. The Company defines Net Debt as the sum of the face amount of short-term and long-term debt and unamortized premium and/or discount, offset by cash and cash equivalents. A detailed reconciliation of Net Debt has been included in the tables distributed with this release.
| Hawaiian Telcom Holdco, Inc. | ||||
| Consolidated Statements of Income | ||||
| (Unaudited, dollars in thousands, except per share amounts) | ||||
|
Three Months Ended June 30, |
Six Months Ended June 30, |
|||
| 2013 | 2012 | 2013 | 2012 | |
| Operating revenues | $ 96,997 | $ 94,689 | $ 192,961 | $ 192,263 |
| Operating expenses: | ||||
| Cost of revenues (exclusive of depreciation and amortization) | 39,960 | 39,432 | 80,244 | 80,231 |
| Selling, general and administrative | 28,516 | 26,994 | 56,895 | 56,020 |
| Gain on sale of property | (6,546) | -- | (6,546) | -- |
| Depreciation and amortization | 19,841 | 17,354 | 38,558 | 33,942 |
| Total operating expenses | 81,771 | 83,780 | 169,151 | 170,193 |
| Operating income | 15,226 | 10,909 | 23,810 | 22,070 |
| Other income (expense): | ||||
| Interest expense | (5,083) | (5,414) | (10,623) | (11,400) |
| Loss on early extinguishment of debt | (3,660) | -- | (3,660) | (5,112) |
| Interest income and other | 6 | 6 | 21 | 18 |
| Total other expense | (8,737) | (5,408) | (14,262) | (16,494) |
| Income before income tax provision (benefit) | 6,489 | 5,501 | 9,548 | 5,576 |
| Income tax provision (benefit) | 2,538 | (20) | 3,750 | (152) |
| Net income | $ 3,951 | $ 5,521 | $ 5,798 | $ 5,728 |
| Net income per common share -- | ||||
| Basic | $ 0.38 | $ 0.54 | $ 0.56 | $ 0.56 |
| Diluted | $ 0.36 | $ 0.51 | $ 0.53 | $ 0.54 |
| Weighted average shares used to compute net income per common share -- | ||||
| Basic | 10,335,828 | 10,241,073 | 10,313,984 | 10,221,056 |
| Diluted | 11,094,681 | 10,730,095 | 11,008,101 | 10,616,201 |
| Hawaiian Telcom Holdco, Inc. | ||
| Consolidated Balance Sheets | ||
| (Unaudited, dollars in thousands, except per share amounts) | ||
|
June 30, 2013 |
December 31, 2012 |
|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $ 58,420 | $ 66,993 |
| Receivables, net | 33,344 | 34,082 |
| Material and supplies | 11,802 | 11,352 |
| Prepaid expenses | 6,786 | 5,161 |
| Deferred income taxes, current | 5,727 | 5,727 |
| Other current assets | 2,062 | 2,181 |
| Total current assets | 118,141 | 125,496 |
| Property, plant and equipment, net | 506,827 | 507,197 |
| Intangible assets, net | 37,337 | 39,075 |
| Goodwill | 1,415 | 1,569 |
| Deferred income taxes | 98,520 | 102,680 |
| Other assets | 11,780 | 9,075 |
| Total assets | $ 774,020 | $ 785,092 |
| Liabilities and Stockholders' Equity | ||
| Current liabilities | ||
| Current portion of long-term debt | $ 2,362 | $ 3,000 |
| Accounts payable | 29,107 | 36,351 |
| Accrued expenses | 15,270 | 20,537 |
| Advance billings and customer deposits | 16,219 | 15,185 |
| Other current liabilities | 4,000 | 3,961 |
| Total current liabilities | 66,958 | 79,034 |
| Long-term debt | 292,818 | 292,410 |
| Employee benefit obligations | 125,851 | 132,004 |
| Other liabilities | 4,734 | 4,784 |
| Total liabilities | 490,361 | 508,232 |
| Commitments and contingencies (Note 12) | ||
| Stockholders' equity | ||
| Common stock, par value of $0.01 per share, 245,000,000 shares authorized and 10,336,484 and 10,291,897 shares issued and outstanding at June 30, 2013 and December 31, 2012, respectively | 103 | 103 |
| Additional paid-in capital | 166,700 | 165,941 |
| Accumulated other comprehensive loss | (28,208) | (28,450) |
| Retained earnings | 145,064 | 139,266 |
| Total stockholders' equity | 283,659 | 276,860 |
| Total liabilities and stockholders' equity | $ 774,020 | $ 785,092 |
| Hawaiian Telcom Holdco, Inc. | ||
| Consolidated Statements of Cash Flows | ||
| (Unaudited, dollars in thousands) | ||
|
Six Months Ended June 30, |
||
| 2013 | 2012 | |
| Cash flows from operating activities: | ||
| Net income | $ 5,798 | $ 5,728 |
| Adjustments to reconcile net income to net cash provided by operating activities | ||
| Depreciation and amortization | 38,558 | 33,942 |
| Loss on early extinguishment of debt | 3,660 | 5,112 |
| Gain on sale of property | (6,546) | -- |
| Employee retirement benefits | (5,708) | (5,018) |
| Provision for uncollectibles | 1,403 | 1,905 |
| Stock based compensation | 1,151 | 840 |
| Deferred income taxes | 3,985 | -- |
| Changes in operating assets and liabilities: | ||
| Receivables | (665) | 2,716 |
| Material and supplies | (450) | (2,127) |
| Prepaid expenses and other current assets | (1,816) | (2,065) |
| Accounts payable and accrued expenses | (9,558) | (3,367) |
| Advance billings and customer deposits | 1,034 | 1,334 |
| Other current liabilities | 39 | 211 |
| Other | 241 | 394 |
| Net cash provided by operating activities | 31,126 | 39,605 |
| Cash flows from investing activities: | ||
| Capital expenditures | (44,978) | (41,235) |
| Proceeds on sale of property | 13,118 | -- |
| Net cash used in investing activities | (31,860) | (41,235) |
| Cash flows from financing activities: | ||
| Repayment of capital lease | (284) | -- |
| Repayment of debt including premium | (302,221) | (306,000) |
| Proceeds from borrowing | 298,500 | 295,500 |
| Loan refinancing costs | (3,442) | (4,130) |
| Taxes paid related to net share settlement of equity awards | (392) | (45) |
| Net cash used in financing activities | (7,839) | (14,675) |
| Net change in cash and cash equivalents | (8,573) | (16,305) |
| Cash and cash equivalents, beginning of period | 66,993 | 82,063 |
| Cash and cash equivalents, end of period | $ 58,420 | $ 65,758 |
| Supplemental disclosure of cash flow information: | ||
| Interest paid, net of amounts capitalized | $ 12,317 | $ 12,067 |
| Hawaiian Telcom Holdco, Inc. | ||||
| Revenue by Category and Channel | ||||
| (Unaudited, dollars in thousands) | ||||
| For Three Months | ||||
|
Three Months Ended June 30, |
Change | |||
| 2013 | 2012 | Amount | Percentage | |
| Wireline Services | ||||
| Local voice services | $ 34,637 | $ 35,730 | $ (1,093) | -3.1% |
| Network access services | ||||
| Business data | 6,416 | 4,791 | 1,625 | 33.9% |
| Wholesale carrier data | 14,809 | 15,457 | (648) | -4.2% |
| Subscriber line access charge | 9,408 | 9,756 | (348) | -3.6% |
| Switched carrier access | 1,736 | 2,251 | (515) | -22.9% |
| 32,369 | 32,255 | 114 | 0.4% | |
| Long distance services | 6,139 | 7,159 | (1,020) | -14.2% |
| High-Speed Internet | 9,880 | 8,959 | 921 | 10.3% |
| Video | 2,864 | 1,035 | 1,829 | 176.7% |
| Equipment and managed services | 7,117 | 6,380 | 737 | 11.6% |
| Other | 3,296 | 2,316 | 980 | 42.3% |
| 96,302 | 93,834 | 2,468 | 2.6% | |
| Wireless | 695 | 855 | (160) | -18.7% |
| $ 96,997 | $ 94,689 | $ 2,308 | 2.4% | |
| Channel | ||||
| Business | $ 42,565 | $ 39,766 | $ 2,799 | 7.0% |
| Consumer | 34,849 | 34,350 | 499 | 1.5% |
| Wholesale | 16,545 | 17,708 | (1,163) | -6.6% |
| Other | 3,038 | 2,865 | 173 | 6.0% |
| $ 96,997 | $ 94,689 | $ 2,308 | 2.4% | |
| For Six Months | ||||
|
Six Months Ended June 30, |
Change | |||
| 2013 | 2012 | Amount | Percentage | |
| Wireline Services | ||||
| Local voice services | $ 69,664 | $ 71,427 | $ (1,763) | -2.5% |
| Network access services | ||||
| Business data | 12,603 | 9,552 | 3,051 | 31.9% |
| Wholesale carrier data | 30,273 | 31,634 | (1,361) | -4.3% |
| Subscriber line access charge | 19,065 | 19,592 | (527) | -2.7% |
| Switched carrier access | 3,502 | 4,635 | (1,133) | -24.4% |
| 65,443 | 65,413 | 30 | 0.0% | |
| Long distance services | 12,713 | 14,607 | (1,894) | -13.0% |
| High-Speed Internet | 19,496 | 17,935 | 1,561 | 8.7% |
| Video | 5,067 | 1,532 | 3,535 | 230.7% |
| Equipment and managed services | 12,496 | 14,889 | (2,393) | -16.1% |
| Other | 6,674 | 4,696 | 1,978 | 42.1% |
| 191,553 | 190,499 | 1,054 | 0.6% | |
| Wireless | 1,408 | 1,764 | (356) | -20.2% |
| $ 192,961 | $ 192,263 | $ 698 | 0.4% | |
| Channel | ||||
| Business | $ 83,081 | $ 81,863 | $ 1,218 | 1.5% |
| Consumer | 69,496 | 68,292 | 1,204 | 1.8% |
| Wholesale | 33,777 | 36,269 | (2,492) | -6.9% |
| Other | 6,607 | 5,839 | 768 | 13.2% |
| $ 192,961 | $ 192,263 | $ 698 | 0.4% | |
| Hawaiian Telcom Holdco, Inc. | |||||
| Schedule of Adjusted EBITDA Calculation | |||||
| (Unaudited, dollars in thousands) | |||||
|
Three Months Ended June 30, |
Six Months Ended June 30, |
LTM Ended June 30, |
|||
| 2013 | 2012 | 2013 | 2012 | 2013 | |
| Net income | $ 3,951 | $ 5,521 | $ 5,798 | $ 5,728 | $ 110,052 |
| Income tax provision (benefit) | 2,538 | (20) | 3,750 | (152) | (87,460) |
| Interest expense and other income and expense, net | 8,737 | 5,408 | 14,262 | 16,494 | 25,004 |
| Depreciation and amortization | 19,841 | 17,354 | 38,558 | 33,942 | 75,524 |
| Non-cash stock compensation | 728 | 500 | 1,151 | 840 | 2,183 |
| Gain on sale of property | (6,546) | -- | (6,546) | -- | (6,546) |
| EBITDA | 29,249 | 28,763 | 56,973 | 56,852 | 118,757 |
| Non-recurring costs | 474 | 458 | 1,125 | 961 | 2,729 |
| Severance costs | -- | -- | 408 | -- | 1,160 |
| Wavecom integration costs | 242 | -- | 628 | -- | 628 |
| Adjusted EBITDA | $ 29,965 | $ 29,221 | $ 59,134 | $ 57,813 | $ 123,274 |
| Hawaiian Telcom Holdco, Inc. | |
| Net Debt to LTM Adjusted EBITDA Ratio | |
| (Unaudited, dollars in thousands) | |
| Long-term debt as of June 30, 2013 | $ 295,180 |
| Less cash on hand | (58,420) |
| Total Net Debt as of June 30, 2013 | $ 236,760 |
| LTM Adjusted EBITDA as of June 30, 2013 | $ 123,274 |
| Total Net Debt to Adjusted EBITDA | 1.92x |
| Hawaiian Telcom Holdco, Inc. | ||||
| Volume Information | ||||
| (Unaudited) | ||||
| June 2013 compared to June 2012 | ||||
| Change | ||||
|
June 30, 2013 |
June 30, 2012 |
Number |
Percentage |
|
| Voice access lines | ||||
| Residential | 194,365 | 212,668 | (18,303) | -8.6% |
| Business * | 195,756 | 185,574 | 10,182 | 5.5% |
| Public | 4,291 | 4,493 | (202) | -4.5% |
| 394,412 | 402,735 | (8,323) | -2.1% | |
| High-Speed Internet lines | ||||
| Residential | 89,737 | 86,021 | 3,716 | 4.3% |
| Business | 18,986 | 17,990 | 996 | 5.5% |
| Wholesale | 998 | 1,122 | (124) | -11.1% |
| 109,721 | 105,133 | 4,588 | 4.4% | |
| Long distance lines | ||||
| Residential | 121,591 | 131,082 | (9,491) | -7.2% |
| Business * | 79,956 | 75,763 | 4,193 | 5.5% |
| 201,547 | 206,845 | (5,298) | -2.6% | |
| Video | ||||
| Subscribers | 13,618 | 6,354 | 7,264 | 114.3% |
| Homes Enabled | 100,000 | 50,149 | 49,851 | 99.4% |
| * Business voice access lines and business long distance lines included approximately 11,400 and 6,200 lines, respectively, as of June 30, 2013 related to the acquisition of Wavecom. | ||||
| June 2013 compared to March 2013 | ||||
| Change | ||||
|
June 30, 2013 |
March 31, 2013 |
Number |
Percentage |
|
| Voice access lines | ||||
| Residential | 194,365 | 199,044 | (4,679) | -2.4% |
| Business * | 195,756 | 196,970 | (1,214) | -0.6% |
| Public | 4,291 | 4,350 | (59) | -1.4% |
| 394,412 | 400,364 | (5,952) | -1.5% | |
| High-Speed Internet lines | ||||
| Residential | 89,737 | 89,464 | 273 | 0.3% |
| Business | 18,986 | 18,810 | 176 | 0.9% |
| Wholesale | 998 | 1,013 | (15) | -1.5% |
| 109,721 | 109,287 | 434 | 0.4% | |
| Long distance lines | ||||
| Residential | 121,591 | 124,072 | (2,481) | -2.0% |
| Business * | 79,956 | 80,659 | (703) | -0.9% |
| 201,547 | 204,731 | (3,184) | -1.6% | |
| Video | ||||
| Subscribers | 13,618 | 11,671 | 1,947 | 16.7% |
| Homes Enabled | 100,000 | 83,000 | 17,000 | 20.5% |