Hawaiian Telcom reports first quarter drop in earnings
Hawaiian Telcom said today the company’s first quarter net income was $154,000, down 84 percent from the same period the year before due to continued investments in its fiber network and rain-related costs.
The technology company said earnings were one cent a share compared to 9 cents a share or $975,000 the first quarter of 2015. Hawaiian Telcom’s revenue grew by $1.7 million to $98.8 million from $97.1 million in the same period in the previous year.
“Hawaiian Telcom’s first quarter results reflect our continued success in delivering the right mix of strategic products and services that meet our customers’ unique and ever evolving needs,” Scott Barber, Hawaiian Telcom’s president and CEO, said in a press release. “From high-bandwidth data services to integrated communications solutions including equipment, connectivity, colocation, and a myriad of cloud services, Hawaiian Telcom is a proven leader in this solutions-based approach. As a result, our business revenue achieved a solid 4.4 percent growth year-over-year, driven by a 23 percent growth in business strategic services.”
Hawaiian Telcom said it enabled 5,000 households during the quarter, increasing the total number of households that can receive its service to 195,000. The company increased subscribers to Hawaiian Telcom TV to 37,100 — approximately 19 percent of the homes capable of getting the service.
“We continue to make steady progress on our strategic initiatives and remain confident that our investments in fiber, both in the state and trans-Pacific, have and will continue to enable us to grow revenue organically and generate sustainable free cash flow in the near future,” Barber said.
One response to “Hawaiian Telcom reports first quarter drop in earnings”
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As an Oceanic customer I have been observing Hawaiian Telcom closely as an alternative. First of all, Hawaiian Telcom allows customers to jump on another promo once their promo has expired. Oceanic on the other hand does not allow this to my knowledge. So once your promo is over, the honeymoon is over and you will be paying the much higher regular rates. Second, Hawaiian Telcom does not charge a rental fee for their modem. If you are an Oceanic customer, take a closer look at your bill and you’ll see this rental fee. Third, Hawaiian Telcom offers a free router. Oceanic simply does not. Fourth, Hawaiian Telcom offers dedicated fiber optic enhanced internet which means tha you do not share a line with your neighbors. That means you won’t be affected by peak internet traffic in your neighborhood. It is just a matter of time before I will be able to take advantage of Hawaiian Telcom’s offerings. I believe that their investment will pay off in the future as more and more consumers like myself become aware of their service. Soon, Oceanic will no longer be the monopoly it once was.