Frontier Communications Corp., based in Norwalk, reported a net loss of $14 million in the third quarter, results that were weighed down by higher acquisition costs. Frontier is in the midst of acquiring landline services from Verizon in three states.
Frontier’s $14 million loss compares to $42 million in profits in the year ago period. Operating income totaled $207 million, up from 192 million a year ago.
Frontier says the 2015 loss reflects acquisition and integration costs of $58 million.
“Frontier executed well in the third quarter,” said Dan McCarthy, Frontier’s president and CEO in a statement. “We extended our consistent track record of strong broadband net additions, achieved another quarter of sequential stability in our Connecticut operations, and grew our data and internet services revenue once again. In addition, we completed two very significant debt transactions totaling $8.1 billion which, together with our June 2015 equity offering, provides the permanent funding to complete our acquisition of Verizon’s California, Texas and Florida wireline operations.”
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