Sprint's Local Division Reports Slight Increase in Revenues
Posted April 26, 2006 7:17 a.m. EDT
RESTON, VA. — Sprint Nextel's local phone division posted a 1 percent gain in revenues for the first quarter of 2006, the company reported Wednesday morning.
The local division is being spun off under the name Embarq as a result of the Sprint-Nextel merger last year.
Local division revenues climbed to $1.6 billion.
Once spun off, Embarq will be the nation's fifth largest local phone company and will have some of its largest operations in the Carolinas.
Overall in the first quarter,
reported $11.5 billion in revenue with a 14-cent per share profit after 21 cents in charges for merger-related costs and special items. Sprint added 1.3 million wireless customers in the quarter.