Mediacom Communications Reports Results for Second Quarter 2008
Thursday, August 7th, 2008MIDDLETOWN, N.Y. — MEDIACOM COMMUNICATIONS CORPORATION (Nasdaq: MCCC) today reported financial results for the three and six months ended June 30, 2008.
Video revenues grew 2.3% from the second quarter of 2007, largely due to basic video rate increases and customer growth in the Company’s advanced video products and services, partially offset by a lower number of basic subscribers. During the quarter, the Company lost 5,000 basic subscribers, compared to a reduction of 18,000 for the same period last year.
During the quarter, digital customers grew by 15,000, compared to an increase of 2,000 in the prior year period, ending the quarter with 599,000 customers, or 45.3% penetration of basic subscribers. As of June 30, 2008, 32.2% of digital customers were taking DVR and/or HDTV services, up from 26.5% at the end of the prior year period.
Summary Operating Statistics (Unaudited):
Actual Actual Actual Video June 30, March 31, June 30, 2008 2008 2007 ----------- ----------- ----------- Basic subscribers 1,321,000 1,326,000 1,344,000 Quarterly basic subscriber (losses) gains (5,000) 2,000 (18,000) Digital customers 599,000 584,000 532,000 Quarterly digital customer additions 15,000 27,000 2,000 Digital penetration 45.3% 44.0% 39.6%
More: Earnings Release
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