Knology (KNOL) reported a wider third-quarter net loss attributable to common stockholders of $3.33 million or $0.09 per share compared with $2.85 million or $0.08 per share a year ago.
Excluding the charges, Knology posted net income of $1.8 million or $0.05 per share for the third quarter of 2009. On average, 8 analysts polled by Thomson Reuters expected earnings per share of $0.07 for the quarter. Analysts' estimate typically excludes one-time items.
Total revenue for the third quarter increased to $105.80 million from $103.22 million in the comparable period. Six analysts estimated revenues of $107.49 million for the quarter.
In addition, Knology executed a definitive agreement to acquire the assets of Private Cable Co., LLC, a provider of video, voice and data services to residential and business customers in Athens and Decatur, Alabama for $7.5 million cash, to be funded from Knology's cash on hand. The transaction is expected to close during the fourth quarter of 2009.
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