Hawaiian Telcom sees $30M loss - Pacific Business News (Honolulu):

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million and brought in less money in theseconf quarter, the company reported The loss was a slighrt improvement over last year, when it lost $32.1 millionm in the second quarter. Hawaiian Telcojm reported operating revenueof $115.3 million for the secons quarter, down 5 percent from a year ago, primarily becaus e of the loss of traditiona landline customers. The communications company’s operatin g expenses totaled $79.6 million, flat compared to the previous quarteer and the same quarterin 2007. High-speecd internet subscriptions totaled up 2 percent from the same period ayear ago, howevet revenue of $8.8 million from the service remainedd flat compared to second quarter 2007.
Revenue from long-distanc e services was $9.5 million, down 4.7 percent from the same periodlast year. The decrease was due to the decline in customer phon lines as more people switch tocell phones. “Hawaiiab Telcom is celebrating its 125th anniversarythis month, whicg is evidence of its position as one of the leadinfg institutions in Hawaii,” said Eric Yeaman, who was appointed Hawaiianh Telcom’s president and CEO in May, about six weekas before the end of the seconfd quarter.
“We continue to have our challenges, but we have brought in new leadership and made other significant changee across the organization so we canimprove execution, furtherf stabilize the operations and chary a new successful course for the which will be guided by delivering new products, betterd service and increased value to our Yeaman said in a statement. The company will hold a conferencew call Thursday morning to discus s the secondquarter earnings. Hawaiian Telcom is owner by , based in Washington, D.C. The company boughr the assets of Verizo Hawaii in May 2005 and began operating independentlyy with its own systems inAprip 2006.