Mediacom Communications Posts Q4 Profit Compared To Loss Last Year - Update
(RealTimeTraders.com) - Tuesday before the bell, Mediacom Communications (MCCC), a cable television company, revealed profit for the fourth quarter compared to loss last year on an increase in revenues.
The company reported net profit for the quarter of $7.1 million or $0.06 a share. This compares to net loss of $49 million or $0.41 a share recorded in the year-ago quarter. On average, 13 analysts polled by First Call/Thomson Financial expected the firm to report a loss of $0.07 a share for the quarter.
For the fourth quarter, Mediacom reported revenues of $258.8 million, up from $239 million posted in the same quarter last year.
The company reported net loss for the full year of $62.5 million or $0.53 a share, significantly narrower from net loss of $161.7 million or $1.35 a share in the last year. Looking ahead for 2004, Mediacom expects revenues in the range of $1.07 - $1.08 billion.
Shares of MCCC ended Monday’s regular trading session at $8.00.
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