Cincinnati Bell Inc. (NYSE:CBB) announced financial results for the third quarter of 2011. For the quarter, revenues were $369 million, up 5 percent compared to the third quarter of 2010, driven primarily by a 26 percent increase in IT Services and Hardware sales and an 18 percent increase in Data Center Colocation revenue. Operating income was $86 million in the quarter, including an $8 million gain on the sale of the Company's home security business. Net income was $18 million in the quarter, a 21 percent increase over the same period a year ago. Diluted earnings per share in the quarter were 7 cents, up from 6 cents in the third quarter of 2010. Adjusted earnings before interest, taxes, depreciation and amortization1 (Adjusted EBITDA) in the third quarter of 2011 totaled $133 million, down slightly from $135 million in the same period of 2010.

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