Windstream Corp. (WIN) added a mere 16,000 high-speed Internet subscribers and 23,000 digital TV customers during the fourth quarter of 2008. Landline losses increased by 5.2 percent, down to a total of 3.04 million.
The meager growth – combined with restructuring charges, losses stemming from the sale of a business and other factors – pushed the rural telco’s net profit down by 86 percent.
Windstream earned $81.2 million in the three months ending Dec. 31, compared with $583.6 million a year earlier. The 2007 results, though, were boosted by a one-time tax-free gain.
Still, Windstream is doling out a 25-cents-per-share dividend.
