While many overbuilders are trimming their business plans, West Point,
Ga.-based Knology Holdings Inc. reported strong revenue growth for the second
The company reported revenue of $25.4 million, up 8 percent for the quarter.
The loss for the period before interest, taxes and other costs totaled
The firm -- which operates systems in Augusta and Columbus Ga.; Charleston,
S.C.; Huntsville and Montgomery, Ala.; Knoxville, Tenn.; and Panama City, Fla.
-- reported that it has 207,493 connections from 399,958 marketable
Of those connections, 107,009 are video, up 4 percent in the quarter.
Knology's customer base also included 44,116 telephone subscribers, a 17 percent
quarterly increase, and 21,730 high-speed-data customers. The latter segment saw
the most growth, improving 21 percent in the quarter.
Knology reported that it and its subsidiaries obtained $52.3 million in
additional financing during the period, including a $40 million secured master
loan agreement from CoBank. The company will use those funds for its Knoxville
It also closed an equity private-placement transaction aggregating $12.3
million. The total private equity raised in 2001 is $111.5