Cablevision Systems Corp. said Tuesday it lost $3.9 million in the quarter ending Sept. 30, despite reporting higher revenues compared with the same period last year.
The Bethpage-based telecommunications and media company, which owns Newsday, reported sales of $ 1.69 billion -- 1.4 percent higher than the year-earlier quarter in 2011. The increase in revenue was countered by losses incurred from paying off debt and from equity derivative contracts.
Cablevision said in a news release that the earnings reflect lower revenue from Newsday and Clearview Cinemas -- which the company put up for sale in May -- and higher operating costs at Newsday.
The loss to shareholders was 1 cent per share, falling below analyst estimates of net income of 16 cents a share in a poll by Bloomberg.
A year earlier, the company earned $39.6 million.
Cablevision's stock fell almost 5 percent in midday trading.
In the news release, chief executive James Dolan primarily addressed the cable outage issues in New York as a result of superstorm Sandy, saying: "As we report our third quarter results today, Cablevision crews continue to work around the clock to restore service to our customers as quickly as possible."