us earns knology 110609
On the homepage
Afghanistan
Out There
Music
Television
Knology posts 3Q loss of $3.3 million on charges, revenue rises 2.5 percent
Print this story
E-mail this story
Save to del.icio.us
Share on Facebook
Share on Digg
Minnesota business by the numbers
See Minnesota's top earning companies, CEOs and non-profits
More from Business
WEST POINT, Ga. - Knology Inc., a cable, phone and Internet services provider, said it posted a $3.3 million quarterly loss because of hefty accounting charges and other costs to amend a credit facility.
Knology reported a loss attributable to common shareholders of 9 cents per share. This compares to a loss of $2.8 million, or 8 cents per share, a year ago.
Results included a non-cash charge of $1.7 million for the accounting for interest rate swaps and a $3.4 million one-time charge to amend Knology's credit facility.
Excluding these charges, Knology posted profit of $1.8 million, or 5 cents per share, in the most recent period.
Revenue increased 2.5 percent to $105.8 million.
Analysts, on average, expected a profit of 7 cents per share on sales of $107.5 million, according to a poll by Thomson Reuters.
Shares declined 25 cents, or 2.4 percent, to $10.31.
Recent Business stories
Treasury bond prices move off their lows after investors readily buy up $32B in 7-year notes - November 6, 2009
Treasury bond prices move off their lows after investors readily buy up $32B in 7-year notes - Treasury prices mainly rose Wednesday after a strong auction for seven-year notes. Bond prices had slumped earlier in the day on rising stocks and upbeat reports on the economy. More
- Bargains, necessities cram carts of Black Friday shoppers in Twin Cities
- Dubai requests 'standstill' on $60B debt
- Ponzi scheme suspect liked cars -- and his submarine
- 2 charged with running $190M Ponzi scheme
- Shoppers got a turkey deal
- China executes 2 for role in tainted milk scandal
- Rush starts as holiday shopping season revs up
Blog: Patent Pending
Lights out at U energy conference. Irony police notified.
Just as Lawrence Kazmerski, a top official at the National Renewable Energy Laboratory, was about to give the keynote address at the University of Minnesota's annual E3 conference at the RiverCentre in St. Paul, the lights went out, bathing the audience in darkness and a deep sense of irony.
Comment on this story | Be the first to comment | Hide reader comments