HSA shows $51.3 M Q3 net loss, revenue jumps 257%
High Speed Access Corp. showed a $51.3 million, or 87 cent-per- share, net loss on revenue of $11.4 million in the third quarter. Excluding noncash charges, net losses were $22.3 million, or 38 cents a share.
The company says its cable modem customers rose 13.6 percent for since the second quarter of this year, and 257 percent over its 56,000 subscribers a year ago.
As of its Sept. 30 third-quarter end, the company had deployed service in systems covering about 3.9 million homes passed, of which 3.7 million were deployed to Charter Communications' business and residential customers.
Earlier this year, HSA announced it would sell to Charter nearly all of the assets and operations of providing high-speed Internet access on cable modem to Charter's business and residential customers.
In the same quarter a year ago, HSA had net losses of $32.2 million, or 56 cents a share, on revenue of $4.3 million. Excluding noncash charges, net losses a year ago reached $30.4 million.