GCI posts first-quarter profit

Posted: Thursday, May 10, 2001

ANCHORAGE (AP) -- General Communication Inc. on Wednesday reported a first-quarter profit of $2.4 million on revenue of $96.9 million

That compares with a loss of $5.5 million on revenue of $68.3 million for the same period last year.

Anchorage-based GCI attributed its profit and big revenue increase to a $19.5 million sale of capacity on its fiber-optic cable, the same reason the company recorded a profit during the second quarter of 1999.

Without the fiber-optic sale, GCI would have posted a loss of $1.8 million in the first quarter on revenue of $77.4 million, said Ron Duncan, GCI's president. That is still an improvement over last year

''We're feeling great about how we're doing,'' Duncan said.

About two-thirds of GCI's revenue comes from its long-distance phone service. Excluding the fiber-optic sale, revenue on that side of the business was $50.8 million, up 10 percent. The long-distance operating profit was $11.8 million.

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