Time Warner Telecom Posts 3Q Loss

Communications Today, Nov 7, 2001

Time Warner Telecom [TWTC], the telecom service unit of AOL Time Warner [AOL], reported Tuesday a 2001 third-quarter loss of $24.3 million, or 21 cents a share, compared to a loss of $2.3 million, or 2 cents a share, a year ago.

The company said third-quarter revenues increased to $172.7 million and earnings before interest, taxes, depreciation and amortization climbed 30 percent to $37 million. Time Warner Telecom said it expects modest to flat growth for revenues and EBITDA in the fourth quarter.

Last month, the company said it will cut 250 jobs and take a one-time pre-tax restructuring charge of $6 million to $8 million to cover the costs in this year's fourth quarter. >TK Golden Telecom [GLDN]: