Frontier Communications Corporation (FTR) reported a net loss of $80MM or $0.07 per share in 2Q16 vs to a net loss of $28MM or $0.03 per share in 2Q15 hurt by higher operating expenses, captial expenditure and integration costs. Revenue increased to $2.6Bil compared to $1.3Bil last year.
The company’s BoD declared a regular quarterly dividend on its 11.125% Mandatory Convertible Preferred Stock, Series A, of $2.78125 per share, payable in cash on Sept. 30, 2016 to holders of record at the close of business on Sept. 15, 2016.
During call, $FTR said it is expanding revenue opportunities by transforming network capabilities and creating long-term competitive advantage. The primary focus will be increasing broadband penetration. $FTR will also offer a full suite of business solutions for the SME segment with expanded distribution channels.
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Submitted August 01, 2016 at 05:48PM by jeffery89 http://ift.tt/2aKCplo
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