Solid 2Q for Overbuilder Grande8/12/2004 5:06 AM Eastern
Grande Communications Inc. said its second-quarter operating revenue for Internet, phone and cable services was $29.1 million, up 5% from $27.6 million in the first quarter.
The San Marcos, Texas-based overbuilder said the revenue increase was due to a growth in subscriber connections, from 219,744 as of March 31 to 230,638 as of June 30.
The company cut its net loss to $12.4 million from $13.4 million at the end of the first quarter.
"Grande's bundled-service offering remains strong, especially looking at our customer penetration of more than 40% and our broadband Internet penetration at an industry-leading 61% of cable-television connections," vice chairman and CEO William E. Morrow said in a prepared statement.