Citizens Communications Generates Q1 Revenue of $652 Million, up 1% Annually

Citizens Communications reported Q1 revenue of $651.9 million; consolidated operating income of $164.3 million; and consolidated net income of $127.4 million, or $0.45 per share. The company produced free cash flow of $146.8 million for the quarter. Revenue from the company's ILEC operations was $513.6 million, up $5.6 million or 1.1% year-over-year. Revenue from its Electric Lightwave division totaled $41.1 million. Citizens is divesting its interests in municipal utilities in Arizona, Hawaii and Vermont as part of its debt reduction program.
http://www.czn.net