RCN adds 11K RGUs in Q1
RCN added 5,000 customers in its first quarter, representing 11,000 revenue-generating units (RGUs).
The 11,000 RGUs break down as 4,000 video, 6,000 data and 1,000 voice subscriptions.
The company reported total revenue of $180 million, up 17 percent from the first quarter of 2007 and 7 percent from the fourth quarter of 2007.
The company posted a net loss of $26 million, greater than its loss of $22 million a year ago but less than the $33 million loss in the prior quarter.
Michael T. Sicoli, CFO of RCN, stated: “First quarter performance was solid, as we yet again delivered sequential and year-over-year growth in both revenue and EBITDA. We are excited to report our RCN Metro results as a separate segment this quarter, highlighting the significant revenue and EBITDA growth potential of this business unit.
“We will continue to invest in improving our competitive position and driving growth in each of our business units, with a balanced emphasis on delivering positive free cash flow and preserving flexibility for future strategic investments such as acquisitions or share repurchases.”
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