Mattoon-based company reports drop in net income
MATTOON – Consolidated Communications Holdings had a 20 percent drop in net income and 27 percent drop in earnings for the first quarter of this year, compared with the same quarter a year ago.
The Mattoon-based telecommunications company on Thursday reported first-quarter net income of $3.7 million, compared with $4.6 million a year ago. Earnings amounted to 13 cents per share, compared with 18 cents per share a year ago. Revenues were up a healthy 27 percent, and after operating expenses were deducted, the company enjoyed an 11 percent increase in income from operations.
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