Shenandoah Telecommunications Q3 net income slightly down

Shenandoah Telecommunications has reported a net income of $6.31 million, or $0.27 per share, for the third quarter ended September 30, 2009, compared to $6.74 million, or $0.28 per share, in the third quarter of 2008.

For the third quarter of 2009, total revenues were $40.1 million, compared to $37.4 million in the third quarter of 2008, an increase of 7%.

For the first nine months ended September 30, 2009, total revenues were $120.4 million, compared to $107.3 million in the same period of 2008, an increase of 12%. Net income was $8.83 million, or $0.37 per share, compared to $18.65 million, or $0.79 per share, in the same period of 2008.

Christopher French, president and CEO of Shenandoah Telecommunications, said: "Despite a difficult economic environment, our company experienced solid operating results in the quarter, while continuing to invest in upgrading and improving all of our networks, especially PCS and the newly acquired cable operations. Development of and growth in these operations is an important part of our plans for long-term growth in earnings."

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Related terms: ceo, earnings, telecommunications