Net income falls for Alltel

Alltel said its first-quarter net income fell to $297.4 million, or 77 cents a share, from a year ago profit of $313 million, or $1.03 a share, because of costs associated with its buyout of Western Wireless and the company's move to shed its wireline business, which the company expects to happen in July. Alltel added 165,000 net new wireless customers.

To read more about Alltel's Q1 results:
- check out this article from Dow Jones