Cox Communications Posts $11.3-Million Loss
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Cox Communications Inc., the fourth-largest U.S. cable television company, had a fourth-quarter loss of $11.3 million as it spent more to get subscribers to sign up for new services.
The net loss of 2 cents a share contrasted with profit of $179.6 million, or 28 cents, a year earlier, the Atlanta-based company said. Revenue rose 12% to $1.51 billion.
Chief Executive Jim Robbins increased marketing expenses by 13% as Cox added more digital cable, high-speed Internet and telephone customers.
Cox said it expected sales this year to rise as much as 12.5%, with capital spending from $1.35 billion to $1.4 billion.
Shares of Cox fell $1.03 to $33 on the NYSE.
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