Mediacom raises 2008 revenue growth forecast

MIDDLETOWN, N.Y. - Cable television company Mediacom Communications Corp. boosted its full-year revenue growth forecast Thursday after reporting a third-quarter profit.

Mediacom now anticipates 2008 revenue growth between 7.5 percent and 8 percent, up from its prior estimate for growth between 7 percent and 8 percent.

The company had 2007 revenue of $1.29 billion, which would put 2008 revenue between approximately $1.38 billion and $1.39 billion based on its new outlook.

Mediacom also reported a third-quarter profit of 2 cents per share, up from a loss of 32 cents per share a year earlier. Analysts polled by Thomson Reuters expected a loss of 8 cents per share.

Shares of Mediacom fell 10 cents, or 2.5 percent, to $3.95 in midday trading. The stock has traded in a 52-week range of $2.75 to $8.42. The broader markets slipped Thursday as new readings on retail sales and jobless claims increased recession fears.

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