Consolidated Communications Holdings Reports Third Quarter 2007 Results
Thursday, November 8th, 2007
- Total Connections Top 300,000
- DSL Subscribers Increase 4,300 and IPTV Subscribers Increase 1,500 in the Quarter
- High Definition TV Service Launches in Illinois
- Successful Completion of Billing Integration
MATTOON, Ill. — Consolidated Communications Holdings, Inc. (Nasdaq: CNSL) today announced results for the third quarter and nine months ended September 30, 2007.
“We had another solid quarter, both operationally and financially,” said Bob Currey, Consolidated’s president and chief executive officer. “Total connections grew by 4,000 in the third quarter and now exceed 300,000. Broadband growth continues to be a strategic focus for the company and the results demonstrate our success. DSL increased by over 4,300 net new subscribers in the quarter, making this the strongest third quarter in the company’s history and increasing the penetration of primary residential lines to 38.6 percent. IPTV growth was also strong, adding almost 1,500 subscribers and bringing the total subscriber base to over 11,000.”
Currey continued, “With the launch of our high definition (HD) product in Illinois midway through the third quarter, we have successfully completed the HD rollout there and in Texas. Customer reaction continues to be positive. Our digital video recorder (DVR) product is scheduled for release in the fourth quarter, which will complete our current product suite.”
“Additionally, the North Pittsburgh acquisition is on track. Assuming approval by the NPSI shareholders on November 13, 2007, we anticipate completing the regulatory approval process and closing on the transaction by either the end of 2007 or early in 2008,” Currey concluded.
Operating Statistics at September 30, 2007, Compared to September 30, 2006
- Total connections were 300,795, an increase of 9,814, or 3.4 percent.
- Total local access lines were 227,186, a decrease of 8,797, or 3.7 percent.
- Broadband connections were 73,609, an increase of 18,611 or 33.8 percent.
- DSL subscribers were 62,546, an increase of 13,186, or 26.7 percent.
- IPTV subscribers were 11,063, an increase of 5,425, or 96.2 percent.
Consolidated Communications Key Operating Statistics September 30, June 30, September 30, 2007 2007 2006 Local access lines in service Residential 149,735 151,645 157,609 Business 77,451 77,362 78,374 Total local access lines 227,186 229,007 235,983 Total IPTV subscribers 11,063 9,577 5,638 DSL subscribers 62,546 58,225 49,360 Broadband Connections 73,609 67,802 54,998 Total connections 300,795 296,809 290,981 Long distance lines (1) 151,320 150,863 148,167 Dial-up subscribers 8,858 10,223 11,740 VoIP subscribers 2,172 1,822 990 IPTV Homes passed 107,631 107,631 72,139 (1) Reflects the inclusion of long distance service provided as part of the VoIP offering
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