Knology Posts Gains for 4Q, 2006

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Knology reported its operating results for the fourth quarter of 2006 and the full year.

Fourth-quarter revenue rose 11.7% compared with the prior-year period, to $66.9 million, and full-year revenue was up 12.2% to $259 million.

Adjusted earnings before interest, taxes, debt and amortization was $18 million in the fourth quarter, up 35.2%, and $67.3 million in 2006, up 41.1% from the operator’s 2005 total.

The company’s net loss attributable to common stockholders for the fourth quarter was $7.7 million, or $0.22 per share, versus $10.5 million ($0.30) in the third quarter and $14.8 million ($0.62) in the previous-year period. For the full year, Knology reported a net loss attributable to common stockholders of $39.5 million, or $1.41 per share, versus $55.4 million ($2.33) in 2005.

Knology said it added 29,462 net connections for the year, with increases in all three of its service offerings: 3,146 video connections, 9,757 voice connections and 16,559 data connections. The operator experienced a 97% increase in HD deployment and a 76% increase in digital-video-recorder deployment.

The company announced last month that it will acquire PrairieWave Communications in a deal valued at $255 million in cash.

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