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High-speed data, digital lift Insight in Q2

Thu, 07/31/2003 - 8:00pm
Jeff Baumgartner

Insight Communications Co. attributed strong digital video and high-speed data subscriber growth on the way to posting an 11 percent increase in revenue during the second quarter.

The MSO recorded revenue of $223 million, while cash flow rose to $94.5 million from $89.3 million in the year-ago period.

During the period, Insight added 11,200 high-speed data (HSD) subs, 4,800 digital video customers and 4,500 cable telephony subs. New services boosted the company's average monthly revenue per basic sub to $57.10, up 11 percent. That helped to offset a loss of 13,000 basic subs that reflected a historical drop tied to university and college students leaving for the summer.

By quarter's end, 95 percent of Insight's systems were upgraded to 750 MHz or higher, while capital spending dipped 39 percent to $43.6 million.

For the year, Insight said it has reduced capex guidance to $200 million, mirroring less spending on cable telephony.

"While we experienced delays in the rollout of telephony in the first half of the year, we continue to believe that the product will be a strong performer in the second half," said Kim Kelly, Insight's president and COO.

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