(Denver, Co.)– Denver-based Qwest Communications says it turned things around in the fourth quarter, posting a profit as compared to a loss a year earlier.
Qwest, which has customers in northwest Iowa and southwest Minnesota, is reporting net income of 194 million dollars, up from a loss of 528 million in the same quarter of 2005.
The company credited an increase in the number of subscribers to its high-speed services for the improved results.
But the latest quarter’s profit also included a 61-million dollar gain on a real estate sale, and the year-ago quarter’s losses reflected a 430-million dollar charge related to extinguished debt.
Revenue for the quarter rose 10 million to three-point-49 billion dollars.
Qwest says it added 165-thousand high-speed internet subscribers during that period.
(Story from the Associated Press.).
