Scientific-Atlanta Signs Provider Agreement With Adelphia
August 22, 2002
Scientific-Atlanta has signed a letter agreement with Adelphia Communications through which S-A can continue to provide products and services to the cable company, which is suffering financial difficulties.
Adelphia has been an S-A customer for 20 years, but its purchases have dropped in recent years. In fiscal year of July 2000-June 2001, Adelphia accounted for 18 percent of S-A's business, 10 percent in FY 2002 and no substantial business in the last quarter. Adelphia recently filed for Ch 11 bankruptcy and owes S-A $83 million. The new agreement will allow S-A to continue to do business with Adelphia, but its details were not disclosed.