Local telephone provider, Embarq Holdings Co., was able to minimize the effect of landline losses in the first quarter, thanks to strong growth in high-speed internet and wireless revenues.

Even after $49 million in one-time financial losses, Embarq managed to generate profits of $371 million, on overall revenue of $1.59 billion.

The former landline and DSL division of Sprint Nextel, Embarq established its own regional wireless business after being divested by Sprint last year, making it a major new force in the triple-play telecommunications market. The company added 23,000 new cell phone customers in the first quarter, for a total wireless subscriber base of 71,000.

With an improving access line trend and strong growth in data, high-speed Internet and wireless revenues, commented Embarq Chairman and CEO, Dan Hesse. We’re off to a great start in 2007.