Qwest Communications has reported financial results for the third quarter 2009, announcing net income of $136 million and earnings per share of eight cents, which was equal to prior-year results. 

 

The third quarter saw net operating revenue of $3.1 billion, including 36 percent growth in IP services. Overall reported revenues declined ten percent compared to the prior-year period, and excluding the effects of the company’s transition to a new wireless business model, revenue declined seven percent year over year. 

 

Total operating revenues declined 1 percent sequentially.

In the quarter, adjusted EBITDA increased 1 percent from the year-ago period as substantial cost improvements offset lower revenue: "Adjusted EBITDA for the quarter of $1.1 billion includes nearly $60 million of incremental non-cash pension and OPEB expenses compared to the third quarter 2008," company officials said. 

For the quarter, adjusted free cash flow was $428 million and year to date, adjusted free cash flow totaled $1.4 billion, compared to $846 million through the third quarter 2008.

Qwest (News - Alert) officials said fiber to the node was deployed to more than 500,000 additional homes during the quarter, and that during the quarter 71,000 customers added broadband services that use the fiber network. Company officials also announced the company will begin developing backbone facilities with Alcatel-Lucent (News - Alert). 

 

Operating expenses in the quarter were $2.6 billion, a decrease of $356 million, or 12 percent, year over year.

In June, Qwest created "a more user-friendly, robust Web platform," according to company officials, to let users "learn about communications, scale and manage their Qwest services while monitoring their network from an online hub."

The site also includes a password-protected, self-service online portal called QControl for existing customers to access detailed account information and manage their Qwest services through a customizable home page, dynamic message center and expanded features including network maps and circuit charts.