Insight Communications turned in another strong financial performance Monday, reporting double-digit revenue and cash flow growth in the first quarter, fueled by strong gains in basic customers and advanced services.
Revenue for the period was $261.4 million, up 10% from the previous year. Adjusted operating income before depreciation and amortization (AOIBDA), a measure of cash flow, increased a strong 19% to $86.9 million. Free cash flow was $40.7 million in the period, compared to $13.4 million in 2009, reflecting the strong cash flow performance and a continued decline in capital expenditures, which declined 32% to $33.6 million from $49.5 million in the corresponding quarter last year.
Insight, which operates in the Midwest, added 6,400 basic-subscriber additions in the period, keeping up the momentum of five straight years of basic customer growth. High-speed Internet customers rose by 14,700, digital subscribers by 16,500 and telephony subscribers by 1,300 customers.