Qwest posts positive 2006 earnings

Regional telecommunications operator Qwest Communications International Inc. pushed its way into the black for the first time in several years, posting profits of $593 million for the full-year 2006.
The company had four consecutive quarters of positive net income, and reported fourth quarter revenue of $3.5 billion and nearly $14 billion for the full year. Qwest had reported an overall loss of $779 million in 2005, and last reported a yearly profit in 2003.
The company said that its bundle penetration reached 57 percent, up from 51 percent at the end of 2005.
In wireless, Qwest’s revenues for the fourth quarter were up 2.2 percent from the year-ago period, to $141 million. Wireless full-year revenues were $557 million, an increase of 5.7 percent from 2005.
Qwest gained an additional 20,000 wireless customers during the fourth quarter to end the year with a customer base of 801,000 subscribers. Wireless average revenue per user decreased slightly year-over-year, from $51 during the fourth quarter of 2005 to $50 during the same period in 2006.