Hawaiian Telcom earnings lower
HONOLULU - Hawaiian Telcom says its profits were down nearly 18 percent in the second quarter as depreciation costs rose because of investments in its broadband network.
The Honolulu-based utility said Thursday that it earned $5.5 million in the quarter ending June 30.
The company said it spent $41.2 million in the first six months of the year to upgrade its infrastructure and expand the number of households that can get its video offerings.
The utility had nearly $95 million in revenue for the quarter, compared with just under $101 million during the same quarter one year ago, company officials said.
Hawaiian Telcom said it saw a 6 percent decline in access lines but grew its business in video, high-speed Internet and business data. Last year's quarter also included a significant sale of equipment to a government customer.
Consumer use of its old services like landline telephones is going down, but its other services are creating a turning point for the company, officials said. Its consumer revenue was $34 million, down 1 percent from the same quarter last year.
Eric Yeaman, Hawaiian Telcom's chief executive, said he is pleased with that momentum and that the company has captured 12 percent of roughly 50,000 households able to get its video service.
"After only a year in the market, we are already reaching subscriber penetration to over 12 percent of the approximately 50,000 household-enabled footprint," Yeaman said.
The company's shares closed at $18.62 on Thursday, up $1.20, 22 percent.
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22K new vehicles registered in isles
HONOLULU - A new report says more than 22,000 new vehicles were registered in Hawaii during the first half of 2012.
That's up nearly 20 percent compared with the first six months last year.
The report from the Hawaii Automobile Dealers Association shows that the three top Japanese automakers still dominate the market. But Jeep registrations were up big - nearly 72 percent.
Dealers say that's because the automaker has allocated more vehicles to Hawaii than in previous years.
Jeep's share of the Hawaii market is still small - just over 2 percent.
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Kauai names equal employment official
LIHUE - Kauai county has named Linda Nuland-Ames its coordinator for equal employment opportunity and making sure the county complies with the Americans with Disabilities Act.
Nuland-Ames says she's looking forward to ensuring that the county gives equal access to employment and doesn't discriminate.
Nuland-Ames has worked the past two years as project director for the Kauai Retired Senior Volunteer Program with the Agency on Elderly Affairs.
