Mediacom reports higher revenue, operating cash flow
Mediacom Communications Corp. said pro forma 3Q revenues rose 10.8 percent to $233.7 million, and operating cash flow jumped 17.2 percent to $97.5 million.
The company partly attributed the gains to basic rate increases, digital re-packaging, growth in its high-speed data operations and "moderate" corporate overhead reductions.
Mediacom's pro forma results assumed the MSO's acquisition of certain cable systems from AT&T Broadband, which serve a combined 800,000 basic subscribers.
Mediacom ended the quarter with 1.588 million basic subs, up 3,000 since June 30, 2002, while digital customers rose 16.8 percent to 348,000 versus the second quarter of this year. As of Sept. 30, Mediacom's digital cable service was available to 1.49 million subscribers, or 94 percent of the company's basic sub base.
On the data front, the MSO reported it had 167,000 cable customers, jumping 70.4 percent versus the same period a year ago.
Mediacom forecasted that it will generate between $237 million and $240 million during the fourth quarter, up 11.6 percent and 13 percent, respectively, year-over-year.