http://www.kccllc.net/windstream/document/1922312190830000000000005
key financial statements are on pages 11, 12
Company lost $34 million on revenues of $430 million. On the positive side, the loss included a large paper loss of almost $88 million in depreciation and amortization expenses for the month, so it may have brought in more cash than it spent.
"We paid out another $8M to the consultants and wrote downanother $61M to goodwill. "
With that said our run rate makes us lose $32M/245M through the end of the year. We are burning cash like a .COM business in the early 2000s. This doesn't make sense expect massive layoffs after January.
By then the executives get paid and don't care they can F'up the next company they move to.
LinkedIn, ZipRecruiter, etc. You know it's coming.
Problem is, that CLEC network carries a ton of ILEC traffic which is how Windstream is skirting the tariff agreements.
You dump all the CLEC sh– we bought over the years trying to be a 'growth' company and we are profitable again. It is literally that simple.
We paid out another $8M to the consultants and wrote down
another $61M to goodwill. I guess that EarthLink merger wasn't
that good after all. I am not sure how we end out on top with every month
operating as a loss. At some point the company will need to be cash flow positive
or it will just fold. I know we still have the $500M draw from Citi but that doesn't solve
any of our day to problems.