RCN Posts 1Q Loss
Revenue Jumps 13%; Overbuilder Says 38% of Subs Have Triple Play
By Steve Donohue -- Multichannel News, 5/10/2007 7:22:00 AM
Cable overbuilder RCN posted a net loss during the first quarter of $22 million, compared to net income of $61 million during the same period last year.
The good news: revenue jumped 13% to $153 million and EBITDA (earnings before interest, taxes, debt and amortization) rose 41% to $36 million.
The company said 38% of its customer base now subscribes to its triple-play package of video, voice and high-speed-data service.
RCN posted $66 million in video revenue during the first quarter, up from $60.5 million during the first quarter of 2006. Data revenue grew from $27.7 million to $32.2 million and voice revenue fell to $28.4 million from $31.2 million this time last year.
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