Phone company shows third-quarter loss
Alaska Communications Systems' third-quarter revenue showed an improvement from the same period a year ago, but still a loss of $7.9 million, or 19 cents per share.
Revenues increased 11.6 percent to $85.7 million from $76.8 million in the third quarter of 2004.
With more than 278,000 total local network access lines, the company lost 6,000 lines, or 2.1 percent, during the quarter, reflecting seasonality, wireless and broadband substitution and migrations to cable telephony, the company said in a written statement.
KeyBank promotes new regional president
KeyBank appointed Oregon District President Wes Lawrence to the newly created position of president of the bank's Pacific Northwest region.
Lawrence, who will be based in Portland, Ore., will be responsible for retail banking, business banking and middle-market commercial banking throughout the region, which includes Alaska, Washington and Oregon.
He also will oversee the region's revenue, expense management, profit and credit quality, as well as grow the client base in all franchise businesses.
KeyBank parent company, Cleveland-based KeyCorp, is one of the nation's largest financial services companies with assets of about $92 billion.
The Pacific Northwest Region includes 232 branches with about 2,400 employees.
Business Digest is compiled by Empire reporter Andrew Petty. If you know of any businesses opening, closing or relocating, or of other business-related news, please contact him at firstname.lastname@example.org.