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Revenue up 20 percent for SureWest, but it barely breaks even
ROSEVILLE May 8, 2008 5:28am 
• Q1 total revenue hits $51.6 Million • Broadband revenues pass telecom for first time Independent telecommunications company SureWest Communications (NASDAQ: SURW) of Roseville says it had total operating revenues of $51.6 million for the first quarter, up 20 percent from $42.8 million in the year-earlier quarter.
The increase is attributed in large part acquisition of Kansas City-based Everest Broadband on February 13. Continued strong residential and business subscriber growth in the Sacramento market also contributed to the increase, the company says.
But profits virtually evaporated.
“Consolidated net income decreased as a result of the sale of SureWest Directories in the first quarter 2007, from $61.2 million to $283,000 in the first quarter 2008,” it says.
"Continuing to grow our broadband segment, with an emphasis on increasing residential revenues and generating new business customers, remains a cornerstone of our growth strategy and solidifies our transformation to an advanced broadband triple-play provider,” says Steve Oldham, SureWest's president and chief executive officer.
For the first time, broadband segment revenues surpassed those brought in by its telecom segment, the company says.
Mr. Oldham says this was “due to the rapid growth of our residential triple-play services and the successful integration of the Kansas City market.”
He also says the company’s sales and marketing efforts in Sacramento “have been successful” in the face of a changing economic market.
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