Mediacom reports narrower loss in 3rd quarter

Mediacom reported a net loss of $4 million in the quarter ended Sept. 30, showing some improvement over a loss of $10 million in the same quarter of 2009.

The cable TV and digital communications provider reported revenues up 3 percent to $374.4 million due larger to growth in high-speed data, advertising, and phone revenues. Operating costs rose 4 percent, due mainly to higher programming expenses.

Video revenue declined 1.1 percent, as the company lost 13,000 basic subscribers. That was an improvement from a loss of 19,000 subscribers in the same quarter of 2009, and was largely offset by year-over-year gains of 62,000 high-speed data customers and 50,000 phone customers. Advertising revenues rose 18.8 percent.

Mediacom officials said the quarterly loss reflected $51.4 million of interest expense, net, a $22.9 million loss on derivatives and a $2.7 million benefit from income taxes.