Thursday, Knology, Inc. (KNOL), a provider of interactive communications and entertainment services, reported a narrower fourth-quarter loss on higher revenue driven by continued growth in video, voice and data net connections, as well as growth in both residential and business connections.
Net loss attributable to common stockholders for the quarter narrowed to $2.1 million or $0.06 per share from $6.0 million, or $0.17 per share in the same period last year. On average, seven analysts surveyed by Thomson Reuters expected the company to incur a loss of $0.02 per share for the quarter.
Total revenue increased to $103.6 million from $94.8 million in the year-ago quarter, yet came in below five Street analysts' estimate of $104.14 million.
Knology added 8,001 connections during the fourth quarter and the additions included 2,372 video connections, 945 voice connections, and 4,684 data connections.
Average monthly revenue per connection increased to $51.11 from $49.17 in the fourth quarter of 2007. Average monthly revenue per connection by product for the three-month period was $61.52 for video, $45.07 for voice and $40.70 for data. Average monthly connection churn during the quarter improved to 2.4%, compared to 2.5% in the prior year period.
GAAP operating income surged 105% to $9.6 million from $4.7 million in the year-ago quarter.
For all of 2008, net loss attributable to common stockholders declined to $12.1 million, or $0.34 per share, from $43.9 million, or $1.25 per share last year. Excluding items net loss attributable to common stockholders for 2007 was $24.8 million, or $0.71 per share. Total revenue rose to $410.2 million from $347.6 million in 2007.
KNOL closed Wednesday's regular trading session at $4.89.
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