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USOL Reports Higher Revenue, Lower Loss

AUSTIN-Slowly, but surely a turn-around is coming for Austin-based USOL Holdings. Its US OnLine subsidiary has pushed up revenue to $3.9 million from 2000's $2.8 million while pushing down the loss factor to $3.6 million from $9.6 million.

By Tim Green | Updated on April 15, 2002

AUSTIN-USOL Holdings Inc., which provides telecommunications service to multifamily living communities, reported higher revenue and lower losses for its 2001 fourth quarter. The company said the increased revenue came from a significant increase in residential units receiving cable, phone and Internet services from subsidiary US OnLine.

For the quarter ending Dec. 31, 2001, USOL reported revenue of $3.9 million in comparison to $2.8 million in the previous year. The net loss for the quarter was $3.6 million, down $6 million from the 2000 fourth quarter. For all of 2001, revenue rose to $14.5 million from $10.2 million in 2000. The net loss was $10.5 million in comparison to a net loss of $22.5 in 2000. The company said the number of subscribers at yearend were 22% higher than the previous year and that passings, units capable of receiving an individual service, were up 52% year-over-year.

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