Strong Q2 For Suddenlink8/01/2012 5:57 PM Eastern
Subscriber metrics continued to improve in the second quarter at mid-sized operator Suddenlink Communications, translating into what is arguably some of the strongest financial results for any sized MSO.
Suddenlink ended the quarter with revenue of $513.3 million, up 6.5% from the previous year and adjusted earnings before interest, taxes, depreciation and amortization of $198.2 million, a 10.5% increase.
In contrast, Comcast reported its second quarter earnings earlier Wednesday, with revenue at its cable operations up 6% and cash flow growth of 5.5%.
"We're in a great position to continue growing this company and are excited about the opportunity to do so with new equity partners," Suddenlink chairman and CEO Jerry Kent said in a statement.
The St. Louis-based MSO lost about 20,100 basic video subscribers in the period, an improvement over the 24,400 it lost in the same period last year. High speed data customers declined by 3,200 in the quarter - compared to a loss of 4,600 high-speed data customers in the prior year - and telephony customers increased by 9,500, down from the 12,200 gained in the same period last year.
On July 18, Suddenlink announced a plan by private equity players BC Partners, pension fund Canadian Pension Plan Investment Board and its management team led by Kent to purchase the company in a deal valued at $6.6 billion.