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RGU growth has Insight in the black

Thu, 05/03/2007 - 10:20am
Brian Santo

Insight Communications added about 120,000 revenue-generating units in its first quarter, which helped boost quarterly revenue by 13 percent from a year ago.

The operator achieved a net gain of 21,200 basic video subscribers, for a total of 1.34 million (representing a 2.9 percent annual growth rate in basic customers from March 31, 2006), and a net of 32,200 digital subs for a total of 653,000. A year ago, in Q1 2006, Insight added 41,700 digital subs.

On the IP side, Insight tallied a net addition of 44,800 broadband customers, for a total of 656,000, and a net addition of 24,400 VoIP subscribers, for a total of 147,800. That was the company's best growth quarter for VoIP.

All of those individual services combined for a total of 2.8 million RGUs, an increase of 319,900 from the end of the similar quarter last year. That number is divided by 1.42 million Total Customer Relationships, an increase of 49,500 compared to 1.37 million as of March 31, 2006. In other words, Insight customers are buying an average of two services each.

Revenue was $339.5 million. Insight reported a profit of $1.8 million, compared to a $10.8 million loss a year ago.

During the quarter, Insight and Comcast dissolved their shared-ownership of several cable systems, with Insight walking away with systems in Louisville, Lexington, Bowling Green, and Covington, Ky.; and in Evansville, Ind. and Columbus, Ohio; and Comcast taking full control of networks in Rockford/Dixon, Quincy/Macomb, Springfield, Peoria, and Champaign/Urbana, Ill.; and in Bloomington, Anderson, and Lafayette/Kokomo, Ind.

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