EarthLink cut expenses by more than $50 million, allowing the Atlanta-based Internet service provider to post a first-quarter profit, executives said Thursday.

Net income for the quarter ending March 31 was $54.4 million, or 49 cents per share, compared with a loss of $30 million, or 24 cents per share, during the same period last year. Total revenue fell to $263.1 million during the quarter, compared with revenue of $324.1 million during the year-ago period.

The company will continue to cut costs and expenses as a way to offset its eroding customer base, executives said.

"This is not a growth businesses," said Kevin Dotts , EarthLink's chief financial officer. "As our subscribers go down, we will not be able to take an amount equal to the revenue that's been lost."

Despite this, executives increased EarthLink's full-year earnings forecast to a range of $245 million to $260 million.

Rolla Huff , EarthLink's chairman and chief executive officer, said the company also continues to talk to other Internet companies about buying their customers. "We will go after existing access line customers from companies who don't see access lines critical to their goals," he said.