[November 05, 2009] Cable operator reports earnings, upgrades Tweet Nov 05, 2009 (Charleston Daily Mail - McClatchy-Tribune Information Services via COMTEX) -- Shenandoah Telecommunications Co., which provides cable TV services to some communities in West Virginia, reported third-quarter 2009 net income of $6.3 million on revenue of $40.1 million. In comparison, the company reported net income of $6.7 million on revenue of $37.4 million in the same period a year ago. The company said the most recent results include a net loss of $800,000 from newly acquired cable operations undergoing upgrades. Last December Shenandoah bought cable operations in 53 communities in West Virginia and Alleghany County, Va., from Rapid Communications. Shenandoah said it would invest more than $20 million to upgrade cable TV services in the following West Virginia towns: Alum Bridge, Anstead, Belington, Boone County, Broad Run, Clay, Craigsville, Dingess, Drennan, Franklin, Gassaway, Gilboa, Glenville, Grantsville, Harrisville, Harts, Hillsboro, Marlinton, Page/Scarbro, Pennsboro, Petersburg, Richwood, Summersville, Webster Springs, West Union and Weston. On Wednesday the company reported that it completed upgrades to its network in Alleghany County, Va., during the second quarter of 2009 and in Franklin and Petersburg, W.Va., during the third quarter of 2009. Shenandoah said that by Dec. 31 it expects to have upgraded the networks in about 65 percent of the homes passed in its cable markets. Shenandoah Telecommunications is headquartered in Edinburg, Va., which is 37 miles south of Winchester. To see more of the Charleston Daily Mail, or to subscribe to the newspaper, go to http://www.dailymail.com. Copyright (c) 2009, Charleston Daily Mail, W.Va. Distributed by McClatchy-Tribune Information Services. For reprints, email [email protected], call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA. [ Back To TMCnet.com's Homepage ]