Mediacom revs up, losses down
EmptyMIDDLETOWN, N.Y. -- Cable television company Mediacom Communications Corp. said Friday it posted a narrower fourth-quarter loss as video, data and advertising revenue all rose.
Quarterly losses totaled $3.6 million, or 3 cents per share, compared with a loss of $212.7 million, or $1.82 per share, during the same period a year ago.
Revenue grew 12% to $313.1 million, from $280.3 million.
Analysts polled by Thomson Financial expected a wider loss of 7 cents per share on revenue of $308.3 million.
Video revenue grew 4% due to rate increases for basic video subscribers and higher service fees from advanced video products such as digital video recorders and high-definition TVs.
Data revenue climbed 21% due to more data customers, while advertising revenue expanded 33% on stronger political advertising and local advertising sales.
Total average monthly revenue per basic subscriber grew 15% to $75.24.
For the year, losses narrowed to $124.9 million, or $1.13 per share, from a loss of $222.2 million, or $1.90 per share, during the same period a year ago.
Revenue rose 10% to $1.21 billion, from $1.1 billion last year.