Earthlink Holdings Corp (NASDAQ:ELNK) Strong 4Q Results Lead Up To Buoyant FY14


Dallas, Texas 03/04/2014 (FINANCIALSTRENDS) – Earthlink Holdings Corp (NASDAQ:ELNK) the domestic telecom services provider reported results for the fourth quarter and full year 2013 operations on 19th February. The firm reported net revenue of $301 million for the quarter which resulted in net loss of $279 million for the same period. Per share the loss worked out to $2.75 per share. The loss was due to a one time book adjustment related to $266 million charge the firm has taken on to its accounts in lieu of deferred taxes.

The Atlanta based firm also reported adjusted earnings before tax of $50.1 million, while net cash generated from operations for the quarter was $40.7 million. From continuing operations the firm reported a free cash flow of $16.2 million.

Expressing his happiness about the strong close to the year, Earthlink Holdings Corp (NASDAQ:ELNK) President and Chief Executive Officer Joseph F. Eazor has been quoted to have said that, “I am excited to be a part of EarthLink. The company has many things going for it, including a fantastic customer base, a strong set of capabilities across information communications and technology, momentum penetrating the mid-market with technology solutions and managed services, and the best employees in the industry.” He also exuded confidence that the firm would continue to work towards a streamlined operational excellence, which would in turn lead to more profitable operations.

For the full year, the revenue came in at $1.24 billion. The most profitable revenue stream for the telecom firm was the Business services segment. It contributed 78 percent of the company’s revenue for the 4Q. Its emerging services business also clocked strong growth and posted a huge $328 million in quarter revenue. The firm also reported positive trends in its consumer retention efforts. Its consumer segment witnessed only 2 percent variance in its fourth quarter customer loss.