Hawaiian Telcom Holdco Q2 Profit Down - Quick Facts

(RTTNews) - Hawaiian Telcom Holdco Inc. (HCOM) reported that its second-quarter 2014 net income declined to $2.2 million or $0.20 per share from $4.0 million, or $0.36 per share in the same period a year ago. The decrease was primarily due to a one-time $6.5 million gain from the sale of property recorded in the second quarter of 2013, partially offset by a one-time $3.7 million loss on early extinguishment of debt.

Adjusted EBITDA was $29.0 million, a decrease of $0.9 million year-over-year, primarily due to higher advertising spending and increased direct cost of services related to video.

Second quarter revenue was $96.8 million, compared to $97.0 million in the second quarter of 2013. Revenue growth in the quarter, driven by video, HSI, and $2.1 million of net incremental data center services revenue from SystemMetrics, was offset by a $2.4 million decrease in equipment and managed services revenue, related to lower customer premise equipment sales, and a 5.5 percent decline in access lines.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.23 per share and revenues of $98.03 million for the quarter. Analysts' estimates typically exclude special items.