Mediacom Communications Post Q1 Loss

May 6, 2005  •  Post A Comment

Cable operator Mediacom Communications on Friday posted a narrowed first-quarter loss driven by increases in digital cable customers as well as strong high-speed data subscription growth.

Middletown, N.Y.-based Mediacom, which has just under 1.5 million subscribers, reported a net loss of $841,000, compared with red ink of $5.7 million a year ago. Revenue was up 1 percent to $266.2 million.

The improved results came as Mediacom, which has struggled against stiffening competition from the satellite operators, added 34,000 new digital cable customers and 40,000 high-speed data customers.

However, Mediacom recorded a 3 percent decline in video revenue as a decline in basic cable subscribers was partially offset by basic cable rate increases.