third quarter and nine months ended September 30, 2009. For the quarter, the company reported net loss of $10,000,000 or $0.15 per diluted share on total revenues of $363,383,000 against net income of $2,197,000 or $0.02 per diluted share on total revenues of $352,553,000 in the same period of last year. Adjusted OIBDA was $131,282,000 against $126,404,000 in the same period of last year. Operating income was $70,949,000 against $71,179,000 in the same period of last year. Income before provision for income taxes was $4,505,000 against $16,691,000 in the same period of last year. Free cash flow was $20,282,000 against negative free cash flow of $10,600,000 in the same period of last year. Pro forma total revenue was $363,383,000, pro forma adjusted OIBDA was $131,282,000 and pro forma operating income was $70,949,000 against pro forma total revenue of $346,827,000, pro forma adjusted OIBDA of $124,675,000 and pro forma operating income of $70,405,000. Adjusted OIBDA was mostly offset by higher depreciation and amortization expense. Revenues rose 4.8% mainly due to a 3.7% year-over-year increase in RGUs, partially offset by lower advertising revenues. Capital expenditures were $57,980,000 against $82,326,000 for the same period a year ago. For the nine months ended September 30, 2009, the company reported net income of $46,768,000 or $0.62 per diluted share on total revenues of $1,088,316,000 against net income of $7,506,000 or $0.08 per diluted share on total revenues of $1,041,732,000 in the same period of last year. Adjusted OIBDA was $403,201,000 against $382,323,000 in the same period of last year. Operating income was $222,581,000 against $205,126,000 in the same period of last year. Income before provision for income taxes was $89,120,000 against $36,126,000 in the same period of last year. Net cash flows provided by operating activities were $245,754,000 against $188,225,000 in the same period of last year. Capital expenditures were $167,153,000 against $217,057,000 in the same period of last year. Free cash flow was $82,776,000 against $1,964,000 in the same period of last year. Pro forma total revenue was $1,085,594,000, pro forma adjusted OIBDA was $402,338,000 and pro forma operating income was $221,718,000 against pro forma total revenue of $1,024,910,000, pro forma adjusted OIBDA of $377,250,000 and pro forma operating income of $203,472,000. At September 30, 2009, total net debt outstanding (total debt less cash balances) was $3,375,000,000, an increase of $5,000,000 from the total net debt outstanding as of June 30, 2009. Capital expenditures were $167,153,000 against $217,057,000 for the same period a year ago.

Mediacom Communications Corp. provided earnings guidance for the full year 2009. The company targets for free cash flow per share guidance of $1.30 for 2009. The company's expectations of a 20% to 25% reduction in capital spending for the full year.

Mediacom Communications Corp., Q3 2009 Earnings Call, Nov-06 2009