Cincinnati Bell’s second-quarter net income goes up

Business
Aug 4, 2009
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CINCINNATI — Cincinnati Bell Inc. said its second-quarter net income increased to $26.3 million, an increase of 3 percent from $25.6 million a year earlier. Earnings per share were 11 cents, up from 9 cents a year ago.

Cost-cutting enabled the telecommunications company to stay profitable, said Jack Cassidy, president and chief executive officer. Cincinnati Bell serves the Dayton area as part of its southwestern Ohio market.

Revenues for the three months ended June 30 were $327.6 million, down by 7 percent from $351.2 million for the second quarter of 2008, Cincinnati Bell said Tuesday, Aug. 4.

For the first six months of this year, Cincinnati Bell earned $55.1 million, or 23 cents per share, as revenue fell by 7 percent to $653.1 million. That compared with $38.5 million, or 13 cents per share, on revenue of $699.7 million a year ago.

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