Mediacom Communications Reports Results for Fourth Quarter and Full Year 2007
Tuesday, February 26th, 2008MIDDLETOWN, N.Y. — MEDIACOM COMMUNICATIONS CORPORATION (Nasdaq: MCCC) today reported financial results for the three months and year ended December 31, 2007.
Revenues rose 6.2% to $332.5 million, reflecting strong contributions from Mediacom’s data and phone businesses.
- Video revenues increased 1.5% from the fourth quarter of 2006, due to higher service fees from our advanced video products and services, including DVRs and HDTV, and basic video rate increases, offset in part by a lower number of basic subscribers. During the quarter, the Company lost 7,000 basic subscribers, as compared to a loss of 14,000 for the same period last year, which included the negative impact of the Company’s retransmission consent dispute with a major television station group.
- Digital customers grew by 16,000, as compared to an increase of 14,000 in the prior year period, ending the year with 557,000 customers, or 42.1% penetration of basic subscribers. As of December 31, 2007, 29.1% of digital customers received DVR and/or HDTV services, up from 20.0% the prior year-end.
Summary Operating Statistics (Unaudited) Actual Actual Actual December 31, September 30, December 31, 2007 2007 2006 ------------ ------------- ------------ Estimated homes passed 2,836,000 2,839,000 2,829,000 Total revenue generating units (RGUs)(a) 2,724,000 2,673,000 2,591,000 Quarterly net RGU additions 51,000 40,000 56,000 Average monthly revenue per RGU(b) $41.07 $41.24 $40.72 Customer relationships(c) 1,399,000 1,402,000 1,445,000 Video Basic subscribers 1,324,000 1,331,000 1,380,000 Quarterly net basic subscriber losses (7,000) (13,000) (14,000) Digital customers 557,000 541,000 528,000 Quarterly net digital customer additions 16,000 9,000 14,000 Digital penetration(d) 42.1% 40.6% 38.3%
Note: Certain reclassifications have been made to prior period amounts to conform to the current period presentation.
(a) Represents the total of basic subscribers, digital customers, data customers and phone customers at the end of each period.
(b) Represents average monthly revenues for the last three months of the period divided by average RGUs for such period.
(c) Represents the total number of customers that receive at least one level of service, encompassing video, data and phone, without regard to which service(s) customers purchase.
(d) Represents digital customers as a percentage of basic subscribers.
Latest News
- Netflix posts first quarter 2024 results and outlook
- Graham Media Group selects Bitmovin Playback
- Dialog, Axiata Group, Bharti Airtel agree on merger in Sri Lanka
- Yahoo brings identity solutions to CTV
- Plex has largest FAST line-up with 1,112 channels
- TV3 migrates from on-prem servers to AWS Cloud with Redge