Net income up 37% to $206m compared to $150m on year-ago quarter
Qwest Communications International has posted a net income of $206m for the first quarter of 2009, an increase of 37% compared to a net income of $150m for the first quarter of 2008. Earnings per share for the quarter of 2009 were 12 cents, a 50% increase from the first quarter of 2008.
Revenue in the first quarter of 2009 was $3.17 billion, a decline of 7% compared to $3.39 billion in the first quarter of 2008.
Adjusted EBITDA for the first quarter of 2009 was $1.15 billion, flat to year-ago results. The adjusted EBITDA margin percentage expanded to 36.1% in the first quarter of 2009 compared to 33.6% in the first quarter of 2008.
Edward Mueller, chairman and CEO of Qwest, said: Disciplined execution and focus on cost controls have produced a strong start to the year given the current economic climate. We are seeing tangible results from our focus on our key strategies to perfect the customer experience, including demand for our leading data services and strong results from our partnerships. We continue to tightly manage spending and investments to preserve financial strength and mitigate near-term economic pressures.