Insight Adds Record No. of Telephony Subscribers

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Cable Operator Posts Solid First-Quarter-2007 Financial Results
-- Multichannel News, 5/3/2007 3:36:00 PM

Insight Communications reported first-quarter-2007 revenue of $339.5 million, up 13% versus the prior-year period.

Adjusted operating income before depreciation and amortization was $129.3 million, up 15% from the first quarter of 2006.

The MSO reported 1,426,300 total customer relationships as of March 31, up 49,500 from the March 31, 2006, total of 1,376,800, and total revenue-generating units of 2,801,600, up 319,900, or 13%.

Insight also reported first-quarter-2007 capital expenditures of $76.9 million and free cash flow of $16.8 million.

As for subscriber gains in individual sectors, Insight picked up 21,200 basic customers during the period, bringing its total to 1.344 million and marking a 2.9% rise versus the previous-year quarter; 44,800 new high-speed-data subscribers, up from 44,000 in the first quarter of 2006, bringing the MSO’s total to 656,000; a drop in digital-subscriber additions to 32,200 from 41,700, for a total of 653,800; and the company’s best telephony-customer-addition total ever, 24,400, dwarfing the 9,800 additions in the year-ago period, for a total of 147,800.

As of March 31, 98% of Insight’s subscribers were passed by two-way, 750-megahertz or higher capacity upgraded network.

Insight and Comcast agreed to split their 50-50 Insight Midwest partnership in half last month, with Comcast receiving 684,000 customers in Illinois (Rockford/Dixon, Quincy/Macomb, Springfield, Peoria and Champaign/Urbana) and Indiana (Bloomington, Anderson, and Lafayette/Kokomo) and Insight retaining 639,000 customers in Kentucky (Louisville, Lexington, Bowling Green and Covington); Evansville, Ind.; and Columbus, Ohio.


Insight Adds Record No. of Telephony Subscribers - 5/3/2007 3:36:00 PM - Multichannel News