FairPoint loses $282M in 2010
While operating under bankruptcy last year, FairPoint Communications lost millions, according to a financial report filed last week with federal regulators.
The North Carolina-based company posted $282 million in losses in 2010, a figure 17% higher than the $241 million the company lost in 2009, New Hampshire's The Telegraph reported. However, industry analyst Robert Rosenberg said the loss may not be dire news if it reflects the company's investment in high-speed fiber networks. In January, FairPoint said it expanded its broadband access to 83% of its customers, offering the service to more than 44,000 additional homes and businesses. Since April 2008, when the company bought Verizon's land lines in northern New England, it has invested more than $135 million in communications infrastructure.
A FairPoint spokesperson was unavailable to comment on whether the company's reported losses in 2010 were related to its expansion of broadband in rural areas, according to the paper. FairPoint filed for bankruptcy in October 2009 and emerged three months ago with a total debt of $1 billion.
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