Revenue reached $3.8 million, up from $2.7 million in the 2000third quarter. USOL has yet to make a profit, but CEO JimLivingston said its expanding revenue stream and "relatively fixedcost structure" are moving it to closer to operatingprofitability.

The company reported its bottom line in three ways. First, itsoperating loss, before items such as interest, taxes and debt areaccounted for, was $908,951, down from a loss of $1.9 million inthe 2000 third quarter. Second, the company reported net income of$538,102, compared to net loss of $3.9 million. The profit resultedfrom several one-time adjustments totaling $3 million. Third, netloss attributable to common shareholders, which is net income minuspreferred stock dividends, was $538,102, 5 cents a share, comparedto a loss of $5 million, 64 cents a share, in 2000.

Back to revenue: The company said growth, compared to the 2000third quarter, came from cable (up 36%), telephone service (up 39%)and Internet service (up 384%). USOL said its passings–an apartmentunit capable of receiving a service–increased 63% for cable, 36%for telephone and 273% for Internet service.

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