Coudersport, Pa.-- Adelphia Communications Corp.
last week reported that its third-quarter cash flow rose 20 percent, including an 11
percent rise in internally generated cash flow from cable operations.
Adelphia said revenue in the fiscal third quarter rose 16
percent compared with the same period a year ago, to $156 million, while cash flow rose to
$87.9 million. The company's net loss rose to $64 million, or $2.09 per share of
stock, from a net loss of $32.8 million ($1.25 per share) in the same period a year ago.
Adelphia's share price rose 63 cents, to close at
$24.63, on the news last Tuesday.
The MSO reported a 6 percent year-over-year rise in
subscribers, to about 2 million, including acquisitions. Excluding acquisitions, the
company-owned subscriber count, which makes up the bulk of Adelphia's subscribers,
rose just 1 percent in the year ended Dec. 31.
Adelphia said its total debt was $2.9 billion as of Dec.
31. The cash-flow gains enabled Adelphia to reduce its pro forma long-term
debt-to-annualized cash-flow ratio to 6.3-to-1, down from 7.5-to-1 in the same period a
Adelphia also reported that Hyperion Telecommunications,
its competitive local-exchange carrier, tripled its quarterly revenue to $5 million on a
year-to-year basis. Hyperion started providing switched-access services in 16 markets
during 1997, and it had 11,800 access lines in service as of Dec. 31.