Holy profit, Batman! At last, some good news in this era of losses and earnings layoffs – tw telecom Inc. (TWTC), the Colorado-based CLEC, made money in the fourth quarter of 2008, and in the year overall.
tw telecom reported net income of $5 million in the fourth quarter; in the same period a year earlier, it lost $5.3 million. Fourth-quarter revenue alone totaled $294.6 million, up from $279.5 million in 2007’s fourth quarter. In all of 2008, tw telecom took in $8.5 million in profit, on $1.2 billion in sales – that’s a big shift from 2007, when tw telecom landed $40.3 million in the red.
Still, as the national recession worsens, tw telecom execs aren’t acting brash about the future. CEO Larissa Herda said the service provider expects continued challenges, including some customer churn, through 2009. However, because tw telecom specializes in Ethernet services for businesses, there’s also the promise of enterprises, universities and others increasing their network use to cut down on other costs such as travel.
“To position ourselves for these opportunities, we are continuing targeted initiatives including product development, ongoing network expansion and further investment in our customer experience,” Herda said in a prepared statement.
So, KABLAMMY and POW to you, evil recession!