Adelphia posts $43.23 million July operating profit

By Caroline Salls

Pittsburgh, Aug. 24 - Adelphia Communications Corp. reported a $43.23 million operating profit for July on revenue of $395.67 million, according to its monthly operating report filed Thursday with the Securities and Exchange Commission.

In June, the company posted a $39.30 million operating profit on $397.30 million in revenue.

The net income for July was $5.87 billion, up significantly from a $97.32 million June net loss.

The July net income included a $5.91 billion net preliminary gain on sale transactions.

Cash and cash equivalents on July 31 were $10.18 billion, up from $731.72 million on June 30.

Adelphia, a Greenwood Village, Colo.-based cable operator, filed for bankruptcy on June 25, 2002 in the U.S. Bankruptcy Court for the Southern District of New York. Its Chapter 11 case number is 02-41729.

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