Knology ups revenue, loses subs in Q2
Knology, the nation’s 17th-largest cable operator, saw an increase in revenue but a decrease in subscriber numbers in its second quarter of 2009.
The MSO’s revenue increased to $107.9 million, marking a 5.7 percent increase compared with the same period a year ago.
Net income for the second quarter was $1.3 million, or 4 cents per share, compared with a net loss of $2.3 million, or 6 cents per share, in the previous quarter and a net loss of $4 million, or 11 cents per share, in the second quarter of 2008.
Total connections decreased by 8,816 during the second quarter. But total subscribers as of quarter-end were 679,345 – a 2.3 percent increase compared with the second quarter of 2008.
Video connections decreased by 4,282; voice connections decreased by 3,084; and data connections decreased by 1,450 in the quarter. Business connections increased by 1,198 during the period to total 104,372 connections, compared with 98,502 total business connections a year ago.
“I am pleased with the financial results for the second quarter,” said Rodger Johnson, chairman and CEO of Knology. “Despite the seasonally soft connections during the second-quarter period and the difficult economic environment, we continue to grow the business in all key financial metrics and remain in a very healthy free cash flow position. We have reached another milestone in the business with the posting of positive GAAP earnings, and we continue to be very focused on taking care of our customers and delivering increased shareholder value.”