Insight Communications Reports Yearly Loss Despite Q4 Profit

Feb 24, 2005  •  Post A Comment

Cable operator Insight Communications reported Thursday that it swung to a fourth-quarter profit, thanks to growth at its high-speed data and digital-cable businesses.

The company, which saw its basic subscriber count decline to 1.27 million from 1.29 million, reported a profit of $6 million, compared with a loss of $4.8 million a year ago. Revenue rose 11 percent to $262.5 million.

For the year, Insight reported a narrowed loss of $13.8 million, compared with red ink if $14.2 million a year ago. Revenue rose 11 percent to $1 billion.

The improved results came as Insight recorded growth in digital-cable and high-speed data service. The company said that during 2004 it added 100,500 high-speed data customers to bring the total to 350,500 customers. Digital-cable subscriptions grew by 48,400 to a total of 451,300.