Insight Voice and Data Drive Q2 Growth
Cable Operator Cuts Net Loss
By Jon Hemingway -- Broadcasting & Cable, 8/20/2007 4:32:00 AM
Insight Communications saw strong growth in its telephone and high-speed-data segments in the second quarter.
Consolidated revenues in the quarter rose 14% to $355.5 million from $311.7 million in the same period last year. Revenue from basic subscriptions rose 6% to $169.9 million from $160.3 million. Digital-subscription revenue was up 25% to $42.9 million from $34.3 million. High-speed-data revenue jumped 25% to $73.3 million from $58.6 million. Telephone surged 60% to $20 million from $12.5 million. Revenue from premium subscriptions was essentially flat at $13.9 million from $13.8 million.
Operating income rose 27% in the quarter to $63.3 million from $49.9 million a year ago while the company’s net loss narrowed in the second quarter to $8.2 million from $10.8 million in the same quarter a year ago.
Adjusted operating income, less depreciation and amortization, increased 20% to $141.4 million from $117.6 million.
The company reported free cash flow of $30.9 million in the quarter.
Total customer relationships dropped 2,200 from the first quarter but were up 49,000 from the same quarter a year ago. Basic-cable customers increased 3% from Q2 2006 to 1.341 million. High-speed-data customers grew 26% to 674,900. Digital-video subscribers grew 15.6% to 661,500. Telephone customers grew 65% to 177,200.
The average revenue per basic customer was $88.27 versus $84.86 in Q1 and $79.65 in Q2 2006.
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