RESTON, VA. — Sprint Nextel's local phone division posted a 1 percent gain in revenues for the first quarter of 2006, the company reported Wednesday morning.
The local division is being spun off under the name Embarq as a result of the Sprint-Nextel merger last year.
Local division revenues climbed to $1.6 billion.
Once spun off, Embarq will be the nation's fifth largest local phone company and will have some of its largest operations in the Carolinas.
Overall in the first quarter,
Sprint
reported $11.5 billion in revenue with a 14-cent per share profit after 21 cents in charges for merger-related costs and special items. Sprint added 1.3 million wireless customers in the quarter.
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