Cincinnati Bell earnings down in first quarter

Business
May 6, 2010
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CINCINNATI — Cincinnati Bell Inc. saw its net income plunge 21 percent, or $6 million, during the three months ended March 31.

Net income for the first quarter totaled $22.8 million, down from $28.8 million in the first quarter of 2009, the company reported on Thursday, May 6. Earnings per share were 10 cents, down from 12 cents a year ago.

Interest expense during the latest quarter increased by $5.3 million, or 17 percent, and income tax expenses increased by $2.9 million, or 15 percent.

Revenue declined by 1 percent, to $323.7 million from $325.5 million a year ago.

The company serves residential and business customers in the Dayton and Cincinnati markets.

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