Mediacom revenues rise, losses narrow in Q4
Citing growth across its board of services, Mediacom Communications posted Q4 revenues of $313.1 million, up 11.7 percent from the year-ago period.
The MSO also recorded a net loss of $3.6 million, narrowed significantly from a net loss of $212.7 million. The year-ago loss reflected a $197.4 million non-cash tax charge.
Mediacom ended the quarter with 2.59 million revenue generating units (RGUs) after adding 56,000 to that total during the period. Mediacom said it shed 14,000 basic subs, due in part to its retransmission spat with Sinclair Broadcasting Corp., versus a loss of 6,000 basic subs in the year-ago quarter. Mediacom had 1.38 million basic subs at the end of Q4.
Basic sub loss was offset by a gain of 14,000 digital subs in Q4. Mediacom ended the quarter with 528,000 digital subs, equal to a penetration rate of 38.3 percent.
Mediacom said it added 34,000 high-speed data subs, ending with a total of 578,000, or a penetration rate of 20.4 percent.
The company signed up 22,000 new phone customers in the quarter, giving it a total of 105,000, equal to a penetration rate of 4.6 percent of homes passed with the service. At the end of 2006, Mediacom marketed its phone service to 2.3 million homes.
"All business segments contributed to our growth story in 2006," said MSO Chairman & CEO Rocco Commisso, in a statement. "After two flat years, video revenues rose nearly 4 percent, made possible in part by increased penetration and usage of our newest digital video products - DVRs, HDTV and VOD."