Insight prospers in 2007
Insight Communications reported annual revenues of $1.4 billion in 2007, a 14 percent increase compared with 2006. Operating income was $572 million, up 17 percent from the year before.
Insight is not a public company and does not reveal profit/loss figures.
Subscriber numbers were up across the board. Insight reported 1.45 million total customer relationships – up 56,900 from the year prior. Those customer relationships resulted in more than three million revenue generating units (RGUs) – an increase of 411,200 compared with year-end 2006.
The net gain in basic customers net was 45,700; the net gain in 2006 was 41,200. Total basic customers at year-end were 1.37 million, representing a 3.5 percent annual growth rate in basic customers and the highest basic customer growth rate in the company's history, Insight said.
The company attracted a net of 143,400 new high-speed Internet (HSI) customers in 2007, compared with an increase of 140,800 in 2006. Insight's HSI customers at year-end totaled 754,600, good for a penetration rate of 30 percent of HSI homes passed.
Digital customer numbers were up 87,600, for a total of 709,200 – a penetration rate of 54 percent. Insight added 134,500 phone customers, dramatically more than the 33,500 added in 2006. Total telephone customers at year-end 2007 were 257,900 – a penetration rate of 13 percent.
Insight's fiscal 2007 led to the final dissolution of the Insight Midwest partnership with Comcast, in which the companies co-owned a number of systems (story here). The division of the partnership's assets and liabilities was completed on Jan. 2 (story here).
Insight now owns all of the cable systems serving customers in Louisville, Lexington, Bowling Green and Covington, Ky.; Evansville, Ind.; and Columbus, Ohio. Comcast owns all of the cable systems serving customers in Rockford/Dixon, Quincy/Macomb, Springfield, Peoria and Champaign/Urbana, Ill.; and Bloomington, Anderson and Lafayette/Kokomo, Ind.
More Broadband Direct: