tw telecom inc. grew both its profit and revenues in the first quarter.
Year over year, net income climbed 53.2 percent to $19.3 million while earnings per share grew to $0.13 from $0.08. Revenues increased 7.9 percent to $358.9 million, mostly due to growth in the enterprise business rather than the wholesale carrier segment.
The Colorado-based managed services provider has been growing its revenues for several years.
“We posted our 30th consecutive quarter of sequential revenue growth, delivered strong margins, and grew both net income and levered free cash flow, while we continued to advance the business with new products and capabilities,” tw telecom CEO Larissa Herda said in a statement.
As of March 31, tw telecom served about 27,500 customers.
Shares of the company (NASDAQ: TWTC) closed Tuesday at $21.58, $1.42 off their 52-week high reached on March 19, 2012.