Cincinnati Bell grows subs, revenue in Q3
Cincinnati Bell (CB) increased its subscriber base in Q3, as well as its total revenue, net income and net debt.
Although local access lines continued to dwindle - down 5.8 percent to 848,700 at the end of the quarter - DSL subscribers increased 16 percent year-on-year, to total 217,600.
Wireless customers also increased - from 528,100 at the end of 2006 to 557,400 at the end of the quarter.
And Super Bundle subscribers were up 12,200 - to 185,400 - compared with the end of last year. CB’s Super Bundle includes wireless, wireline and data offerings, as well as DirecTV service.
Total revenues for the quarter were $344.3 million, an increase of $24.2 million, or 8 percent, year-on-year. The growth was driven by $13 million of service and $11 million of equipment revenue growth.
Net income totaled $25.7 million. Excluding special items, quarterly net income increased 5 percent compared with last year.
The technology solutions segment produced quarterly revenue of $74.1 million, up 29 percent compared with the year-ago quarter. Revenue from the wireless segment increased 16 percent, to $75.1 million, and wireline segment revenue totaled $202 million. Increased revenue from the technology solutions, wireless, wireline data and long distance segments offset the decline in wireline voice revenue.
“The momentum generated in Cincinnati Bell’s key growth areas of wireless, technology solutions and DSL led to the eighth-consecutive quarter of year-over-year revenue growth,” said Jack Cassidy, president and CEO of CB.
CB’s net debt increased by $12 million compared with Q2, to total nearly $2 billion at the end of the third quarter.
CB provides telecommunications products and services to residential and business customers in parts of Ohio, Kentucky and Indiana.