Charter Communications Turns To Profit In Q4 - Quick Facts

(RTTNews) - Cable operator Charter Communications Inc. (CHTR) reported that its fourth quarter of 2013 net income totaled $39 million, compared to a loss of $40 million in the year-ago quarter. On a per share basis, net income was $0.35, compared to a loss of $0.41 in the year ago quarter.

On pro forma basis, net loss was $73 million and $0.73 per share in the prior year quarter.

The pro forma results improved from last year, primarily due to higher income from operations and a $4 million tax benefit in the fourth quarter of 2013 versus a $75 million pro forma tax expense in the fourth quarter of 2012. The tax benefit was primarily related to a partnership restructuring in the fourth quarter of 2013, as well as refinancing transactions completed in 2013.

Total revenues for the quarter grew 12.3% to $2.148 billion from last year's $1.913 billion. Quarterly revenues rose to $2.1 billion, 5.0% higher on a pro forma basis than the year-ago quarter, due to growth in Internet, video and commercial revenues.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.24 per share and revenues of $2.16 billion for the quarter. Analysts' estimates typically exclude special items.