Windstream Communications reported a net loss of $77.5 million on revenues of $1.4 billion in the fourth quarter, the Little Rock, Ark.-based company said today. Revenues were down from $1.5 billion and profits were down from $118 billion in the year-ago period. For all of 2014, Windstream had revenues of $5.8 billion and a net loss of $39.5 billion. In 2013, the company, which acquired Iowa Telecommunications Services in 2010, had profits of $241 million on revenues of $6 billion in 2013. Windstream is in the process of transferring some assets to a publicly traded real estate investment trust.That transaction is expected to close this quarter. Meanwhile, Windstream also reported that it generated free cash flow of $794 million for the year and paid $602 million in dividends to shareholders.