Insight Announces Second Quarter 2007 Results
Thursday, August 16th, 2007Digital customer net gain of 7,700, compared to net additions in Q2 2006 of 11,700. Total digital customers at quarter end were 661,500, a penetration of 52% of the company’s digital universe
NEW YORK – Insight Communications Company (Nasdaq: ICCI) today announced financial results for the quarter ended June 30, 2007.
Basic cable service revenue increased 6% due to an increased customer base and video rate increases, partially offset by promotional discounts. Historically, Insight has experienced a seasonal decline in basic customers during the second quarter primarily as a result of students leaving the university communities Insight serves. In addition, digital service revenue increased 25% over the prior year due to an increased customer base and a $1.58 increase in digital ARPU. Insight added a net 7,700 digital customers during the quarter to end at 661,500 customers.
Total Customer Relationships were 1,424,100 as of June 30, 2007, an increase of 49,000 from 1,375,100 as of June 30, 2006. Total Customer Relationships represent the number of customers who receive one or more of Insight’s products (i.e., basic cable, high-speed Internet or telephone) without regard to which product they purchase.
In the quarter ended June 30, 2007, Insight added 53,000 RGUs, which represent the sum of basic, digital, high-speed Internet and telephone customers, and as of June 30, 2007, had 2,854,600 RGUs, an increase of 13% from June 30, 2006.
Link: Full Release
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