Insight Announces Third Quarter 2011 Results

NEW YORK--(BUSINESS WIRE)-- Insight Communications Company today announced financial and operating results for the quarter ended September 30, 2011.

Third Quarter Highlights

• Revenue of $270.1 million, a 3% increase over Q3 2010
• Adjusted Operating Income before Depreciation and Amortization* of $91.2 million, a 7% increase over Q3 2010
• Capital expenditures of $33.2 million
• Free Cash Flow** of $22.1 million
• Total Customer Relationships of 757,900 at September 30, 2011, a decrease of 8,300 from September 30, 2010
• Total Revenue Generating Units (“RGUs”) of 2,152,900 at September 30, 2011, an increase of 63,800, or 3%, from September 30, 2010 and a 11,400 total RGU net loss during the quarter comprising:

• Basic customer net loss of 9,800. Total basic customers at quarter end were 670,000, a 50% penetration of homes passed.

• Digital customer net loss of 3,700. Total digital customers at quarter end were 646,300, a 96% penetration of the Company’s basic cable customers.
• HSI customer net gain of 6,300. Total HSI customers at quarter end were 543,800, a 41% penetration of HSI homes passed.
• Telephone customer net loss of 4,200. Total telephone customers at quarter end were 292,800, a 22% penetration of the Company’s telephone universe.

• As of September 30, 2011, 99% of the Company’s customers were passed by two-way, 750 MHz or higher capacity upgraded network.

The Quarterly Report for the quarter ended September 30, 2011 will be posted in the Investor Relations section of the Company’s website: www.myinsight.com.

Conference Call

The Company will host a conference call to discuss its third quarter results at 11:00 a.m. ET on Thursday, November 10, 2011. Information that has not previously been disclosed may be discussed during the call. The dial-in information for the conference call is as follows:

Domestic: 800-265-0241
International: 617-847-8704
Access Code: 803-513-29

About Insight Communications

Insight Communications is the ninth largest cable operator in the United States with approximately 757,900 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 residential and business customers and delivers cn|2, a new kind of news and information network, to all of its Kentucky and Indiana customers. On August 15, 2011, Insight entered into an agreement with Time Warner Cable Inc. for the sale of the Company. The closing, which is subject to customary closing conditions, is expected to occur in the first half of 2012.

* Defined as operating income before depreciation, amortization and adjusted for non-cash stock-based compensation expense and other one-time items.
** Defined as net cash provided by operating activities less capital expenditures.

*Homes passed data reflect an immaterial adjustment correcting prior periods. Penetrations for those periods have been adjusted accordingly.

CONTACT:

Insight Communications
Sandy Colony, 917-286-2300
Senior Advisor, Employee Communications

KEYWORDS:   United States  North America  New York

INDUSTRY KEYWORDS:   Technology  Internet  Telecommunications  Professional Services  Banking  Finance

MEDIA:

Logo