Bankrupt FairPoint Communications lost more than $77 million in the third quarter. The losses were on revenues of $268.3 million, a revenue drop of more than 18 percent for the same quarter last year, according to the New Hampshire Union Leader.
The North Carolina-based company, which provides landline telephone service in Maine, New Hampshire and Vermont, announced the third quarter results in a filing with the U.S. Securities and Exchange Commission. Since the beginning of the year, FairPoint lost $103.9 million through September. Over the same nine months last year, the company was in the black $7.5 million.
In addition, the number of voice access lines in service dropped more than 9 percent from September of 2008 to September of this year, the paper reports.
FairPoint filed for bankruptcy last month. The next hearing in U.S. Bankruptcy Court is set for December 10.
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