GCI reports first quarter earnings of $27 million

Posted: Wednesday, May 09, 2001

ANCHORAGE (AP) -- General Communication Inc.'s first-quarter earnings were $27 million, or nearly a 93 percent increase compared to the same quarter last year, the company said Wednesday.

Revenues in the first quarter grew to nearly $97 million, an increase of nearly 42 percent over the previous first quarter.

The results reflect the $19.5 million capacity sale on GCI's fiber optic cable. Excluding the fiber sale, revenues for the first quarter increased $9.1 million dollars, or 13.3 percent, to more than $77 million.

''The new year is off to a great start,'' said GCI President Ron Duncan.

The company said revenues increased across all product lines in the first quarter, with the fastest growth in long distance services. Long distance services grew more than 52 percent over the same quarter of 2000.

GCI's local business services added more than 3,000 access lines during the quarter, and now has more than 65,000 access lines representing a 33 percent market share in the Anchorage area.

Broadband, private line and other data revenues increased 47.8 percent to $11.9 million during the first quarter. That compares to $8.1 million in the same period of 2000.

GCI is headquartered in Anchorage and provides local, wireless and long distance telephone, cable television, Internet and data communications services.

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