EarthLink net income sinks to $32.5 million - Atlanta Business Chronicle:

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The Atlanta-based Internet service provider posted net incomdeof $32.5 million and earnings of 30 cents a compared with net income of $51.7 millio and earnings of 47 cent a share in the firstt quarter of 2008. The results for the firsf quarter of 2009 include an incomw tax provisionof $20.9 million, compared with $9.3 milliob in the first quarter of 2008. Revenues dipped 24 percent to $199.1 million in the first The revenue decline was expected bases on historic seasonality in thefirsty quarter, ongoing subscriber mix trends, and changes in the structurwe of certain partner relationships, which contributed to lower revenue but highe gross margin percentages, EarthLink said.
EarthLink (NASDAQ: ELNK) had 2.6 million total subscribers at the end of thefirsty quarter, compared with 3.6 million at the end of the same periods of 2008. "In light of the difficult economidc environment, we are especially pleasedx with our firstquarter results. Most of our key metricsx were inline with, or above expectations," said EarthLinm Chairman and CEO Rolla P. Huff in an earnings "Our disciplined approach to continuously re-buildint and right-sizing our consumer access business is continuintg to generate significant cash flow and meaningfulpshareholder value.
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