tw telecom inc. saw higher net income in the third quarter, thanks to gains in enterprise, data and Internet services adoption.
The Littleton, Colo.-based CLEC posted a $16.1 million profit, up from $7.7 a year earlier. Sales jumped from $304.8 million to $320.3 million.
“While a few large customer disconnects, along with other quarterly fluctuations, impacted net revenue growth this quarter, our fundamentals remain strong,” said Mark Peters, tw telecoms executive vice president and CFO. We’re seeing momentum in the business through growth in our bookings and installations.”
To wit, enterprise sales increased 6 percent year-over year; and data and Internet sales were up 16 percent year-over-year, with Ethernet and managed VPN services contributing a big chunk of that growth. Voice services, on the other hand, dropped slightly, by 1 percent. Network services remained flat.
tw telecom ended the quarter with almost 27,400 customers and $507.5 million in cash, equivalents and short-term investments.
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August 13 2018 @ 22:53:36 UTC