Knology Earnings Up, Subs Rise Slightly8/12/2003 6:27 AM Eastern
Competitive cable provider Knology Inc. posted increased revenue and shaved
its net loss for the second quarter even as it added modestly to its subscriber
The West Point, Ga.-based cabler saw consolidated revenues rise to $42.9
million in the second quarter, up $2.2 million from the first quarter and up $8
million compared with the second quarter of 2002.
It also posted a net loss of $19.4 million, an improvement compared with the
$20.5 million loss posted in the first quarter and the $24.3 million loss logged
in the year-ago period.
Earnings before interest, taxes, depreciation and amortization came in at
$8.6 million, a $3.9 million increase compared with the same quarter last
Knology reported subscriber increases in terms of total connections, and in
the second quarter, it added 4,178 new connections.
The operator now claims 132,163 video customers, 115,268 telephony customers
and 58,031 high-speed-data customers as of June 30.
Those numbers will likely bump up in the coming quarters with Knology’s
announced $15 million deal to buy cable assets from Verizon Media Ventures
The assets -- located in Pinellas County, Fla., and Cerritos, Calif. -- will
add about 291,000 homes passed, with 64,000 video customers and 11,000 data
connections to Knology’s footprint, which includes eight markets. The deal is
expected to close by the end of the year.