Hawaiian Telcom adds 8,608 video subscribers in 1Q 2014

HONOLULU — Hawaiian Telcom Holdco, Inc. (Nasdaq:HCOM) reported financial results for its first quarter ended March 31.

Video service revenue grew to $4.8 million for the quarter, up from $2.2 million in the same period a year ago, driven by the addition of approximately 8,600 subscribers for a total of approximately 20,300 subscribers at the end of the first quarter. During the quarter, 10,000 additional households were enabled, increasing the total number of households enabled to 130,000 with 48% of those households capable of connecting directly to the Company’s ultra-fast fiber-optic technology. Hawaiian Telcom TV penetration of households enabled was approximately 16 percent at the end of the first quarter.

Video services:

                                             Change
               March 31,  March 31,  --------------
                    2014       2013  Number    %age
               ---------  ---------  ------  ------
Subscribers      20,279      11,671   8,608   73.8%
Homes Enabled   130,000      83,000  47,000   56.6%
                 
                                             Change
               March 31,   Dec. 31,  --------------
                    2014       2013  Number    %age
               ---------  ---------  ------  ------
Subscribers       20,279     18,393   1,886   10.3%
Homes Enabled    130,000    120,000  10,000    8.3%