Revenue, Cash Flow Rises at Mediacom

Basic subs decline, but HSD, phone drive growth

By Mike Farrell, Multichannel News -- Broadcasting & Cable, 3/1/2013 2:14:35 PM

Mediacom Communications grew fourth-quarter revenue and cash flow by about 3% in the fourth quarter, fueled mainly by gains in high-speed data and phone customers.

The small and medium-sized market MSO, which has about 1 million customers in the Midwest and Southeast regions of the country, reported combined revenue in its Mediacom Broadband and Mediacom LLC units of $400.3 million in the period, up 3.4% from the prior year. Adjusted Operating income before depreciation and amortization (AOIBDA), rose a combined 3% at the units to $162.8 million.

Video customers declined by about 10,000 at Mediacom Broadband and by 9,000 at Mediacom LLC. But the two units managed a combined 6,000 gain in broadband subscribers and grew telephone customers by about 1,000.

Free cash flow at the combined units more than doubled during the period to $54.5 million from $22.6 million in the prior year.

Although privately held, Mediacom still has public debt which requires it to file public financial statements.