Alltel 2Q Net Down 54%; Year-Ago Qtr Included Sale Gains

Alltel's second-quarter earnings fell 54%, as the year-earlier quarter included a $176.6 million gain on the disposal of assets and $140.5 million in income from discontinued operations.

The Little Rock, Ark., communication company had second-quarter earnings of $195.7 million, or 56 cents a share, compared with $428.9 million, or $1.10 a share, a year earlier.

The company said net income from current businesses rose to $261.8 million, or 75 cents a share, from $208.2 million, or 53 cents, a year earlier.

Alltel said revenue for the quarter rose 12% to $2.18 billion from $1.95 billion a year ago.

The company said post-pay churn was 1.16%, and total churn was 1.67%. Alltel added 181,000 post-pay customers in the quarter.

-Sara Leitch; 201-938-5400; AskNewswires@dowjones.com

(END) Dow Jones Newswires"

Posted to the site on 1st August 2007