ATLANTA — Cox Communications Inc. lost $71.6 million, or $0.12 per diluted share, during the fourth quarter of 2000. According to reports, analysts on average had expected the company to post a larger loss of $0.21 per share.
During the same period a year ago, the cable company, which says it serves some 6.2 million customers, reported a profit of $113.1 million, or $0.18 per share.
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Cox said fourth quarter revenues rose 31 percent to $945.9 million from $728.1 million a year earlier. For the year 2000, Cox said revenues rose 51 percent, to $3.51 billion, from $2.32 billion during the same period a year ago.
Cox said selling, general and administrative expenses for 2000 rose 15 percent, due to an increase in employees, marketing costs, service upgrades and integration expenses associated with cable systems the company acquired in 1999 and 2000. The company also said it expects its first quarter 2001 operating cash flow to increase between 9 and 11 percent over the first quarter of 2000 as it continues to move into the Internet access business and sees a near doubling of revenue in its core commercial services group, according to reports.
