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To: tech101 who wrote (29)	2/12/2003 4:35:56 PM
From: tech101	Read Replies (1) \| Respond to of 661

Cox posts revenue boost in broadband, bundles by Toby Weber Fueled by growth in bundled offerings, broadband and cable telephony, Cox Communications today reported fourth-quarter revenue growth of 18% compared with the year-ago period. For the quarter ending Dec. 31, the company posted revenues to $1.3 billion, up from the $1.1 billion reported in Q4 2001 and including a $255.2 million pre-tax gain resulting from a number of items. Net income for the quarter was $179.6 million compared with a net loss of $105.2 million for the fourth quarter of 2002. For the full year, revenues increased 18% to $5 billion. Including one-time gains and losses, Cox posted a net loss of $274 million for 2002, significantly better than the $755 million loss reported in 2001. The company added 135,650 high-speed Internet customers in the fourth quarter, giving it a total of 1.4 million broadband subscribers at year-end 2002, a 59% increase compared with 2001. Cable telephony showed strong growth as well, with 67,190 customers added during the quarter. The company’s year-end telephony customer count was 718,420, up 58% year over year. With the increasing penetration of both phone and broadband service, often in bundled packages, Cox announced that it sells an average of one revenue-generating service for every home the company’s networks pass. “To an industry that’s traditionally defined itself by basic penetration, this is a wakeup call to our new reality, said Pat Esser, Cox’s executive vice president for operations. “We are no longer simply a cable company. The digital bundle is our growth engine, now and in the future.” For 2003, the company is forecasting revenue to increase by 14% to 15%. Capital expenditures are expected to be approximately $1.6 billion, and the company expects to be free cash flow positive for the full year 2003. telephonyonline.com