Cox Loss Grows as It Spends More to Upgrade

Cox Communications Inc. said its first-quarter loss widened as the company spent 38% more to upgrade its cable network to sell telephone, television and Internet service over one connection. The loss from operations widened to $125.4 million, or 21 cents a share, from $89 million, or 15 cents, a year earlier, said Mark Major, company treasurer. Sales rose 22% to $947.9 million from $779.9 million, boosted by acquisitions. The fifth-biggest U.S. cable TV company, which plans to spend $2 billion this year upgrading its systems, expects to meet its 2001 sales-growth forecast of 14% to 16%.