Chilly 1Q for GCI5/07/2004 8:19 AM Eastern
General Communication Inc. said Friday that its first-quarter profit fell to $1.9 million in 2004 from $2.6 million in the prior-year quarter.
Revenue at the Anchorage, Alaska-based telecommunications provider was up 17% to $109 million from $92.8 million in the year-ago period.
As far as GCI’s cable-television business, the company lost subscribers, but average revenue per subscriber was up10.2% to $76.58 from $69.49 in the first quarter of 2003.
GCI blamed its first-quarter-2004 loss of 369 cable customers on EchoStar Communications Corp.’s Dish Network direct-broadcast satellite service launching local signals via satellite in Anchorage. The company added 228 subscribers in the year-earlier quarter.