Solid 3Q for Rogers10/26/2004 7:00 AM Eastern
Rogers Communications Inc. reported gains in revenue and operating profit, along with lower capital expenditures, for the third quarter.
Revenue at the Canadian MSO rose 18.3%, to $1.434 million from $1.212 million in the year-ago period. Operating profit was up 14% to $455,975 from $400,106. The company posted net income of $61,584 after a third-quarter-2003 net loss of $17,442.
The company said revenue-generating units at its cable systems rose by 77,100, driven by growth of 43,300 Internet subscribers and 37,300 digital-cable households and modestly offset by a net loss of 3,500 basic subscribers.