Insight Announces First Quarter 2010 Results
NEW YORK--(BUSINESS WIRE)-- Insight Communications Company today announced financial and operating results for the quarter ended March 31, 2010.
First Quarter Highlights
- Revenue of $261.4 million, a 10% increase over March 31, 2009
- Adjusted Operating Income before Depreciation and Amortization* of $86.9 million, a 19% increase over March 31, 2009
- Capital expenditures of $33.6 million
- Free Cash Flow** of $40.7 million
- Total Customer Relationships of 784,900 at March 31, 2010, an increase of 7,900 over March 31, 2009
- Total Revenue Generating Units (“RGUs”) of 2,082,600 at March 31, 2010, representing an increase of 110,200 or 6% from March 31, 2009, and 40,800 total RGU net additions during the quarter comprising:
- Basic customers net gain of 6,400. Total basic customers at quarter end were 722,700, a 54% penetration of homes passed.
- HSI customer net gain of 14,700. Total HSI customers at quarter end were 516,300, a 39% penetration of HSI homes passed.
- Digital customer net gain of 18,500. Total digital customers at quarter end were 527,900, a 73% penetration of the company’s basic cable customers.
- Telephone customer net gain of 1,300. Total telephone customers at quarter end were 315,700, a 25% penetration of the company’s marketable telephone homes.
- As of March 31, 2010, 99% of the company’s customers were passed by two-way, 750 MHz or higher capacity network.
About Insight Communications
Insight Communications is currently the ninth largest cable operator in the United States with approximately 784,900 customer relationships in the three contiguous states of Kentucky, Indiana and Ohio. Insight offers bundled, state-of-the-art video, high-speed Internet and voice telephony services to its customers.
* Defined as operating income before depreciation, amortization and adjusted for non-cash stock-based compensation and other one-time items.
** Defined as net cash provided by operating activities less capital expenditures.
| Insight Communications Company, Inc. | ||||||
| Operating Statistics | ||||||
| (in thousands, except per customer and penetration data) | ||||||
| Q1 | Q4 | Q1 | ||||
| 2010 | 2009 | 2009 | ||||
| Customer Relationships | 784.9 | 775.7 |
777.0 |
|||
| Revenue Generating Units (“RGUs”) |
2,082.6 |
2,041.8 |
1,972.4 |
|||
| Total Average Monthly Revenue per Basic Customer | $121.13 | $118.41 | $110.17 | |||
|
Basic Cable |
||||||
| Homes Passed | 1,333.8 | 1,329.9 | 1,317.6 | |||
| Basic Cable Customers | 722.7 | 716.4 | 723.7 | |||
| Basic Cable Penetration |
54.2% |
53.9% |
54.9% |
|||
| Cable Revenue | $98,391 | $95,644 | $93,679 | |||
| Average Monthly Cable Revenue per Basic Customer | $45.58 | $44.43 | $43.60 | |||
|
High-Speed Internet (“HSI”) |
||||||
| HSI Homes Passed | 1,317.8 | 1,313.8 | 1,301.5 | |||
| HSI Customers | 516.3 | 501.5 | 478.5 | |||
| HSI Penetration | 39.2% | 38.2% | 36.8% | |||
| HSI Revenue | $62,407 | $59,270 | $53,050 | |||
| Average Monthly HSI Revenue per Basic Customer | $28.91 | $27.53 | $24.69 | |||
| Average Monthly HSI Revenue per HSI Customer | $40.90 | $39.70 | $37.74 | |||
|
Digital Cable |
||||||
| Digital Customers | 527.9 | 509.4 | 470.2 | |||
| Digital Penetration of Basic Cable Customers | 73.0% | 71.1% | 65.0% | |||
| Digital Revenue | $33,909 | $31,795 | $31,026 | |||
| Average Monthly Digital Revenue per Basic Customer | $15.71 | $14.77 | $14.44 | |||
| Average Monthly Digital Revenue per Digital Customer | $21.86 | $21.06 | $22.74 | |||
|
Telephone |
||||||
| Telephone Universe (marketable homes) | 1,275.0 | 1,271.2 | 1,250.5 | |||
| Telephone Customers | 315.7 | 314.5 | 300.1 | |||
| Telephone Penetration | 24.8% | 24.7% | 24.0% | |||
| Telephone Revenue | $41,654 | $40,371 | $35,197 | |||
| Average Monthly Telephone Revenue per Basic Customer | $19.30 | $18.75 | $16.38 | |||
| Average Monthly Telephone Revenue per Telephone Customer | $44.05 | $42.97 | $40.63 | |||
|
Advertising Revenue |
||||||
| Advertising Revenue | $8,743 | $12,584 | $8,127 | |||
| Average Monthly Advertising Revenue per Basic Customer | $4.05 | $5.85 | $3.78 | |||
|
Other Revenue |
||||||
| Other Revenue | $16,345 | $15,226 | $15,660 | |||
| Average Monthly Other Revenue per Basic Customer | $7.57 | $7.07 | $7.29 | |||
CONTACT:
Insight Communications
Sandy Colony, 917-286-2300
SVP, Corporate Communications
KEYWORDS: United States North America New York
INDUSTRY KEYWORDS: Entertainment TV and Radio Technology Telecommunications Professional Services Finance
MEDIA:
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