Cox Revenue Up 4%; Neil ‘Cautious’

A cautious Robert Neil released Cox financial figures Thursday.
“As we move into the fourth quarter of 2004, business remains erratic and visibility remains very difficult given the recent trend we’ve seen of business strengthening as each month comes to a close,” he said in the company’s overview.
“While we are pleased to have this late business, it’s proven to be rather unpredictable. As a result, we remain cautious in our guidance and expect revenue growth for the fourth quarter to be in the low single digits.”
The company saw revenue growth of 4.2% in the recent quarter compared to last year’s period. Neil said the company outpaced the industry and the various markets Cox is in.
Strong markets for Cox were Orlando, Tampa, southern Connecticut, Jacksonville, Long Island,
Tulsa, Hawaii, Louisville and Greenville-Spartanburg. Declines were seen in Atlanta, Miami, Houston, San Antonio and Birmingham.
For the year to date, Cox has had net revenue of $327 million, up 3%.
Cox Radio has 78 stations.