Knology’s revenue increases in Q4
Knology, the nation’s 17th-largest cable operator, posted its fourth-quarter and 2008 year-end results today, which included a 9.3 percent increase in fourth-quarter revenue compared with the previous third quarter.
Knology had revenue of $103.6 million in the fourth quarter of 2008, compared with $103.2 million in the third quarter and $94.8 million for the same quarter a year ago.
Knology reported EBITDA, as adjusted, of $35.2 million for the fourth quarter of 2008, up from $34.6 million in the previous quarter and $29.8 million in the fourth quarter of 2007.
Knology said the fourth-quarter 2008 revenue and EBITDA, as adjusted, represented all-time highs for the company.
Knology reported a net loss attributable to common stockholders of $2.1 million for the fourth quarter 2008, or 6 cents per share, compared with a net loss of $2.8 million, or 8 cents per share, for the previous quarter, and a net loss of $6 million, or 17cents per share, for the fourth quarter of 2007.
For the full-year 2008, Knology reported a net loss attributable to common stockholders of $12.1 million, or 34 cents per share, compared with a net loss of $43.9 million, or $1.25 per share, in 2007.
Knology said the net loss attributable to common stockholders for 2007 included a loss of $27.4 million on the early extinguishment of debt and a gain of $8.3 million on the sale of discontinued operations.
For the fourth quarter, Knology added 2,372 video connections, 945 voice connections and 4,684 data connections. For the year, it added 6,178 video connections, 12,382 voice connections and 17,667 data connections.
“The financial condition of the company is sound,” said Knology President M. Todd Holt. “We ended the year with over $58 million in cash and are delivering healthy free cash flow on a go-forward basis. We are fortunate to have a simple and efficient capital structure which we believe will facilitate growth in shareholder value when current market conditions improve.”