Qwest posts a rise of 37% in net income for Q1’09 (USA)

www.WirelessFederation.com/news: Qwest Communications, wire line and broadband operator based in US has posted a rise of 37% in net income year-on-year for the Q1 of 2009, to US$206 million. The firm ended March with revenues of USD3.17 billion, down 7% in comparison to a year earlier. The profit is attributed to the lower operating expenses of USD2.6 billion, a 9% year-on-year reduction, partly as a result of it shedding 10% of its workforce in 2008, ending March 2009 with 32,800 employees. The increase in net income also represents an effective tax rate of 31%, compared to 39% a year earlier.