UGC Posts 1Q Net Loss

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UnitedGlobalCom Inc. said Monday that its net loss for the first quarter of 2004 was $150 million, compared with net income of $17 million in the previous-year quarter.

The Denver-based international telecommunications provider said the loss was driven by a $22 million foreign-currency-exchange loss, versus a gain of $151 million in last year's first quarter, due to less favorable foreign-currency-exchange movements on few U.S.-dollar-denominated securities.

First-quarter revenue was $547 million, up 26%, or $111 million, versus the prior-year period.

Operating cash flow rose 67% to $204 million.

The MSO said it added 92,300 net new revenue-generating units, including 60,600 Internet subscribers -- up 90% from first-quarter-2003 additions.

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