GCI reports 3rd quarter income of $1.5 million

PHOTO/ Ron Veltkamp/For the Journal
Anchorage-based telecommunications provider General Communication Inc. reported net income of $1.5 million for the third quarter of 2001, up from a loss of $2.4 million during the same period a year ago.

"The Alaska economy remains strong and our core businesses continue to grow," said GCI president Ron Duncan in a press release. "We see no reason that we won’t be able to maintain our momentum throughout next year."

For the first nine months of 2001, GCI reported net income of $4.1 million, up from an $11.4 million loss the year before. Revenues totaled $270.5 million, up 16.4 percent from the prior nine-month period.

Revenues during the third quarter increased 15.9 percent over the same period in 2000 to $88 million, the company said. The company said it expected fourth-quarter revenues to be slightly lower, between $84 million and $86 million.

By sector during the third quarter, the company also reported:

Broadband and other data revenues up 34 percent from the third quarter of 2000; Local telephone access lines up 4,000 from the second quarter to 73,000 lines; and Internet customers up 2,500 from the previous quarter to 68,000.
11/18/2001 - 8:00pm