Mediacom Battles Hurricanes and Satellites
by drake 12:58PM Friday Nov 26 2004
Reported and Story Continued at fool.com
By Chris Cather
November 23, 2004
Hurricane Ivan and satellite providers DirecTV (NYSE: DTV) and EchoStar (Nasdaq: DISH) wreaked havoc for Mediacom (Nasdaq: MCCC), the nation's eighth-largest cable company and small city niche player, during the company's third quarter.
Mediacom announced earnings Nov. 8, posting a loss of $0.11 per share compared with a $0.02-per-share gain in the year-earlier period. Consensus analyst estimates were for $0.01 per share.
Hurricane Ivan disrupted operations for the company during September in Alabama, Florida, and Mississippi, and according to its 8-K, the company "experienced damage to cable plant, and other property and equipment, business interruption and loss of customers."