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Mediacom prospers with RGU growth

Fri, 05/07/2010 - 8:50am
Brian Santo

Mediacom Communications’ Q1 financials were floated by some of the same trends that lifted the first quarters of Cablevision, Charter and Comcast: RGU growth (largely broadband and VoIP) and a revival of the advertising market.

The company reported an increase of 57,000 revenue-generating units (RGUs); it added 21,000 digital customers, 26,000 broadband subscriptions and 13,000 VoIP subscriptions, while losing 4,000 basic subs.

Advertising revenues were 13.1 percent higher due to increased local and, to a lesser extent, national advertising sales, in part due to a rebound in automotive advertising sales, the company said.

Revenue was $368.7 million, a 3.1 percent increase. Net income was more than halved, however, from $22.4 million in the first quarter of 2009 to $8.5 million in the recently completed first quarter. Mediacom explained those year-over-year results were distorted largely by a $13 million one-time gain from the sale of assets a year ago.

Capex in the quarter was $57.9 million, compared with $54.8 million during the prior-year period. The increase largely reflected greater investments in the internal phone platform and, to a much lesser extent, high-speed data delivery system, Mediacom reported. This was offset in part by reduced outlays for customer premises equipment and network improvements and extensions.

More Broadband Direct 5/07/10:
•  Mediacom prospers with RGU growth
•  Suddenlink adopts Toa workforce management system
•  MetroCast upgrades its Motorola CMTS
•  Comcast strengthens HD hand in Philly area
•  BigBand trims workforce as Q1 revenue drops
•  Tekelec buys Camiant, Blueslice
•  Harmonic snags Omneon for $274M
•  Survey: Silos still chokepoint for deploying services
•  Verizon touts core service, fiber optics
•  Questions linger over Ill. telecom overhaul bill
•  Panasonic reduces losses on sales recovery 

 

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