Windstream Corporation is an S&P 500 company with about $3.7 billion in annual revenues. Windstream provides phone, high-speed Internet and high-definition digital TV services to customers in 21 states.

The company's fourth quarter 2009 profit was down by 7 percent mainly on the back of higher costs as well as losses in its traditional phone customers. Cell Phone Companies and cable Internet phone service are capturing the phone companies' landline customers.

The company earned 17 cents per share or $75.5 million in the fourth quarter of 2009 as compared to 19 cents per share or $81.1 million in the same quarter last year. Revenue fell 3 percent to $754.4 million from $777.5 million in the same quarter last year. However, revenue still topped analysts' forecast of $739 million.

Most impressive result during the fourth quarter was the company's improving cash generation. The company produced $288 million in free cash flow - a 14 percent increase year-over-year - and $823 million in free cash flow for
2009 - an 8 percent increase from a year ago.