Telephone and Data Systems (TDS) announced third-quarter 2009 earnings per share of 33 cents, which fell behind the Zacks Consensus Estimate of 47 cents and the year-ago quarter EPS of 87 cents. Net income (attributable to TDS) tumbled 65% year over year to $35.6 million as profit dipped at the company's wireless subsidiary U.S. Cellular (USM).

The Chicago-based company reported operating revenue of $1,258.7 million, reflecting a 4% year over year drop as a result of declines across its wireless and wireline businesses.

U.S. Cellular (Wireless)

Net income sank 60% year over year to $35.6 million, due to lower revenue and increased operating expenses. Operating revenue declined 3% over the prior-year quarter to $1,058 million as a result of a 3% year over year decline in service revenues that registered $984.9 million in the quarter. The unit continues to experience lower roaming revenue, offset by healthy data revenue growth (up

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Telephone and Data Systems (TDS) reported second-quarter results yesterday with earnings per share of 63 cents, down 20% year over year, while beating the Zacks Consensus Estimate of 58 cents. Net income came in at $69.7 million compared to $87.8 million reported a year ago.

The Chicago-based company reported operating revenue of $1.2 billion, reflecting a 3% year-over-year increase, with most of the contribution coming from its wireless subsidiary U.S. Cellular (USM). Quarterly operating income was $154.6 million, up 3% year over year compared to an operating income of $149.7 million reported in the prior-year period.

U.S. Cellular (Wireless):

Reported net income of $83.4 million represents a 15% year over year increase due to lower operating expenses, while operating revenue declined 1.7% over the prior-year quarter to $1 billion. The segment reported a 1.3% year-over-year decline in service revenues to $974.8 million in the quarter.

Data revenue

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