Cable television, telephone and Internet company Knology Inc. reported Tuesday a net loss of $6 million in the fourth quarter of 2007 and $43.9 million for the full year.
The negative earnings came with the West Point, Ga.-based company posting sharp increases in overall revenue and projecting 19 percent growth in 2008 based on two recent acquisitions.
Revenue rose from $66.9 to $94.8 million in the three-month period ended Dec. 31, while it jumped from $259 million to $347.7 million in the full year.
"2007 was a year of many significant accomplishments," Rodger L. Johnson, Knology's president and chief executive officer, said in a statement. "We delivered very solid results in all of the key financial and operational metrics, and have positioned the company for continued growth in the future."
Knology's markets include Columbus, with its primary competitors being Mediacom and Charter Communications.
The company said its free cash flow jumped nearly 198 percent to $28.7 million for the full year.
In the fourth quarter, the number of residential connections companywide grew 34.5 percent, from 411,000 to nearly 553,000. Business connections rose 75 percent from about 51,000 to nearly 90,000.
Average monthly revenue per connection increased 75 cents to $49.17.
Knology said it successfully integrated its $255 million purchase of Sioux City, S.D.-based PrairieWave Communications into its network last year. The company also closed its $75 million acquisition of Dothan, Ala.-based Graceba Total Communications in early January.
The new cable operations should push total revenue up 19 percent, to as much as $420 million, this year, Knology said.