Buoyed by growth across the board, Mediacom Communications posted Q3 revenues of $305.6 million, up 11.1 percent from the year-ago period.
That was not enough to offset a net loss of $89.8 million, versus a net loss of $2.7 million a year earlier. The company attributed the wider loss to a handful of factors: the early extinguishment of debt of $28.3 million; the loss on derivatives, net of $15.9 million due to the quarterly mark-to-market of its interest rate heeding agreements; and provision for income taxes of $42.4 million due to a non-cash charge related to Mediacom's deferred tax asset position.
"In the third quarter, Mediacom delivered its strongest financial performance since 2002," said company Chairman & CEO Rocco Commisso, in a statement.
The company said video revenues jumped 4.8 percent in the period, though it did lose 6,000 basic subs, narrowed from a loss of 17,000 basic subs in the year-ago period, which included a loss of 9,000 as a result of Hurricane Katrina.
Data revenues rose 22 percent year-over-year, and revenues from the MSO's more recently introduced phone service grew 32.8 percent to $7.7 million, versus the previous quarter.
As of Sept. 30, the company served 83,000 phone customers, and was marketing phone service to 1.85 million of its 2.8 million homes passed.
Mediacom also ended the period with 544,000 high-speed Internet subs, up from 453,000 a year ago, and 514,000 digital subs, up from 477,000.