Achieving modest growth in the teeth of the recession, TW Telecom(TWTC) said it generated quarterly profits of $7.7 million or $0.05 per share, up from a net loss of $0.2 million for the same period last year. A provider of managed services for businesses, TW Telecom said it saw higher churn during the quarter, particularly from enterprises, but had essentially managed to sell it way out of the downturn.
Revenue for the quarter was up 5 percent, to $304.8 million compared to $291.6 million for the third quarter of 2008.
TW Telecom said it will continue to focus on building its enterprise business, where revenue grew by $15.9 million, or 7 percent, year-over-year. The company has been beefing up its enterprise service portfolio – the company said this week it is adding deep-packet inspection for network monitoring and management.
Since business customers are using the Internet to access more of their enterprise applications,
“more evolution of broadband services is required,” TW Telecom Larissa Herda told VON earlier this year. The ISP’s data revenue increased rapidly this quarter, at 17 percent year-over-year, while its revenue from carriers dropped slightly.
TW Telecom’s share price was up 4 percent Tuesday on the Nasdaq.