News

RCN Narrows 3Q Net Loss

11/11/2003 7:54 AM Eastern

RCN Corp. said Tuesday that its net loss for the third quarter was $110.5 million, or $1 per share, versus $169.2 million ($1.54) in the third quarter of 2002.

Revenue for the quarter was $115 million, up 6.1% from $108.4 million in the year-earlier period.

RCN finished the quarter with 1,390,402 marketable homes -- including its Starpower 50-50 joint venture in the Washington, D.C., area -- with 436,020 customers on its network. Of those, 187,161, or 42.9%, were taking one of its "ResiLink" bundles.

ResiLink customers ended the quarter with an average of 3.3 services, including long-distance telephony.

Overall customer churn during the quarter was 2.8%, the company said.

September