Knology Reports Q4 EPS of $0.14 vs. $0.24

Knology, Inc. KNOL today reported financial and operating results for the fourth quarter and year ended December 31, 2010. Total revenue for the fourth quarter of 2010 was $123.6 million compared to revenue of $107.1 million for the same period one year ago and $112.9 million for the third quarter 2010. Knology reported EBITDA, as adjusted, of $43.7 million for the fourth quarter of 2010. EBITDA, as adjusted, was $36.5 million in the fourth quarter of 2009 and $38.3 million in the third quarter 2010. During the 4th quarter of 2010, Knology recorded a one-time charge of $19.8 million for the early extinguishment of debt related to the financing of the Sunflower acquisition and a noncash gain of $1.7 million related to the accounting treatment of the company's interest rate swaps. Excluding these items, Knology posted net income of $5.1 million, or $0.14 per share for the fourth quarter of 2010 compared to a loss of $233,000, or $(0.01) per share for the fourth quarter of 2009. Including the noncash and one-time items, the net loss for the fourth quarter of 2010 was $13.0 million, or $(0.35) per share, compared with net income of $866,000, or $0.02 per share for the fourth quarter of 2009.