Charter Communications said 4th-quarter net loss widened to $1.81...
Charter Communications said 4th-quarter net loss widened to $1.81 billion from $302 million a year ago after asset write-downs. The company, under federal investigation for its accounting, also announced restated financial results dating back to 2000. It said it…
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had overstated revenue for the first 3 quarters of 2002 by $38 million and its 2001 and 2000 revenue by $146 million and $108 million, respectively. Adjusted EBITDA was overstated by $110 million for the first 3 quarters of 2002 and by $292 million and $195 million in 2001 and 2000, respectively, it said. The company reduced its net loss by $12 million in the first 3 quarters of 2002 and by $11 million in 2001 but net loss deepened by $29 million for 2000.