EarthLink announces 1stQ results

EarthLink, Inc. has announced financial results for its first quarter ending March 31.

Highlights include a net income of $7.3 million or $0.07 per share; net cash provided by operating activities of $66.2 million; unlevered free cash flow (a non-GAAP measure) of $45.9 million; and ending cash and marketable securities of $270.8 million.

“During the first quarter, we delivered solid results, with our business services segment showing positive progress,” said Rolla P. Huff, EarthLink chairman and CEO. “We continue our strategic transformation to an IT services company, and we are gaining significant traction in the marketplace with our differentiated assets and capabilities.”

EarthLink reported revenue of $344.4 million in the first quarter, a 2 percent decrease from the prior quarter and a 42 percent increase from the first quarter of 2011, reflecting the acquisitions of One Communications and five IT services companies in 2011.