TMCnet News
NorthState Reports First Quarter 2019 ResultsHIGH POINT, N.C., May 17, 2019 (GLOBE NEWSWIRE) -- NorthState, a fiber optic network, cloud and IT services provider, announced today its financial results for the first quarter ended March 31, 2019. Summary of Selected Financial Data Quarter Ended March 31, 2019 versus Quarter Ended March 31, 2018
Chief Executive Officer Royster Tucker III said, “Our first quarter results demonstrate continued effective execution on our fiber, cloud enablement and IT services strategy and our fiber expansion in the Piedmont Triad Region of North Carolina. We are very pleased with our strong start to the year.” “During the first quarter, consolidated net operating revenue continued to shift in favor of both strategic and business revenue. Internet and communications revenues were up 4.4% compared to the prior year quarter, primarily driven by higher average revenue per user and increases in both fiber-connected households and businesses. IT services and hardware revenues grew by 29.9% year-over-year, drien by a 71.5% increase in telecom and IT equipment revenue and a 66.1% increase in professional services revenue.” Added Mr. Tucker, “Encouraged by our sales efforts in this opening quarter, we are continuing to build momentum in the IT services and hardware segment. In addition, as we broaden our fiber footprint and increase penetration in existing markets we are continuing to drive growth in our Internet and communications segment. As a result of these efforts, we remain well positioned for successful execution on our growth strategy.” For further details on NorthState’s financial results for the first quarter of 2019, please see the Q1 2019 Earnings Report. Forward-Looking Statements About NorthState ______ 1 Strategic Revenue is all revenue excluding legacy voice revenue. Legacy voice revenue is comprised of non-IP voice, long distance, and network access revenue. Please see the financial tables included in the press release on the company’s website.
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