AFC Reports Q4 Revenues of $84.8 million

AFC reported Q4 revenues of $84.8 million, compared to $85.2 million in Q3 2003 and $85.7 million in Q4 2002. Net income for the fourth quarter of 2003 was $5.7 million, or $0.06 per share, compared with $9.3 million, or $0.11 per share, in Q3 2003. Net income for Q4 2002 was $17.6 million, or $0.21 per share.



"In spite of the modest decline in annual revenues due to a challenging industry environment, we increased core business net income by 39% to $34.0 million in 2003 from $24.4 million in 2002," said John Schofield, chairman, president and chief executive officer at AFC. "Over the year we experienced growing demand for our broadband solutions. Our shipments of DSL lines in the fourth quarter were the largest ever, with 105,000 lines shipped. This gives us approximately 250,000 DSL lines shipped in 2003, another record for AFC."http://www.afc.com