Knology Inc., one of the Augusta area's internet and cable service providers, today reported revenue for the first quarter of 2011 was $128 million, compared to revenue of $110 million for the same period one year ago.
Knology reported net income for the first quarter was $12.2 million, or 33 cents per share, compared with a net loss of $815,000, or 2 cents per share, for the first quarter of 2010.
Total connections increased 6,729 during the first quarter to 773,090 as of quarter end. This represents a 9.9 percent increase over a year ago.
Average monthly revenue per connection was $55.49, which represents an increase from $52.48 for the first quarter of 2010.
In February, the company entered into an agreement to acquire cable and broadband assets located in Fort Gordon and Troy, Ala., which is expected to close this summer.