Insight Has Strong 3Q

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Insight Communications reported another strong quarter, fueled by gains in advanced services subscribers.

Revenue at the privately held operator—it has public debt, which is why it releases quarterly results—was up 17% in the third quarter to $220 million and adjusted operating income before depreciation and amortization rose 8% to $69.5 million. Excluding non-recurring expenses (primarily the impact of Hurricane Ike), adjusted OIBDA would have been $71.4 million, an increase of 11% in the period.

Insight added 9,300 basic subscribers in the period, ending the quarter with 702,000 basic customers in Kentucky, Indiana and Ohio. Digital subscribers rose by 14,400 in the period and high-speed Internet customers increased by 20,500. The MSO added 19,200 telephony customers in the period, ending with 249,600 subscribers. Telephony penetration is now at 20% of marketable homes.

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