Insight Announces Third Quarter 2009 Results


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November 11, 2009 2:53 PM EST

NEW YORK--(BUSINESS WIRE)-- Insight Communications Company today announced financial and operating results for the quarter ended September 30, 2009.

Third Quarter Highlights 

    --  Revenue of $246.0 million, a 12% increase over Q3 2008
    --  Adjusted Operating Income before Depreciation and Amortization* of $74.1
        million, a 7% increase over Q3 2008
    --  Capital expenditures of $36.4 million
    --  Free Cash Flow** of $26.1 million
    --  Total Customer Relationships of 775,700 at September 30, 2009, an
        increase of 22,400 over September 30, 2008
    --  Total Revenue Generating Units ("RGUs") of 2,018,600 at September 30,
        2009, representing an increase of 201,400 or 11% from September 30, 2008
        and 27,400 total RGU net additions during the quarter comprising:
        o Basic customer net loss of 1,900. Total basic customers at quarter end
          were 718,200.
        o HSI customer net gain of 11,900. Total HSI customers at quarter end
          were 493,400, a 38% penetration of HSI homes passed.
        o Digital customer net gain of 12,300. Total digital customers at
          quarter end were 495,700, a 69% penetration of the company's basic
          cable customers.
        o Telephone customer net gain of 5,200. Total telephone customers at
          quarter end were 311,400, a 25% penetration of the company's telephone
          universe.
    --  As of September 30, 2009, 99% of the company's customers were passed by
        two-way, 750 MHz or higher capacity network.

About Insight Communications

Insight Communications is currently the ninth largest cable operator in the United States with approximately 775,700 customer relationships in the three contiguous states of Kentucky, Indiana and Ohio. Insight offers bundled, state-of-the-art video, high-speed Internet and voice telephony services to its customers. 


* Defined as operating income before depreciation, amortization and non-cash
stock-based compensation.

** Defined as net cash provided by operating activities (as defined by
accounting principles generally accepted in the United States) less capital
expenditures.

(page 1) 


Insight Communications Company, Inc.

Operating Statistics

(in thousands, except per customer and penetration data)

                                                      Q3       Q2       Q3

                                                      2009     2009     2008

Customer Relationships                                775.7    775.1    753.3

Revenue Generating Units ("RGUs")                     2,018.6  1,991.2  1,817.3

Total Average Monthly Revenue per Basic Customer      $114.08  $112.29  $105.22

Basic Cable

Homes Passed                                          1,325.5  1,320.9  1,308.4

Basic Cable Customers                                 718.2    720.1    702.0

Basic Cable Penetration                               54.2%    54.5%    53.7%

Cable Revenue                                         $94,872  $95,014  $89,091

Average Monthly Cable Revenue per Basic Customer      $44.00   $43.84   $42.61

High-Speed Internet ("HSI")

HSI Homes Passed                                      1,309.4  1,304.8  1,291.8

HSI Customers                                         493.4    481.5    445.1

HSI Penetration                                       37.7%    36.9%    34.5%

HSI Revenue                                           $57,545  $55,405  $48,253

Average Monthly HSI Revenue per Basic Customer        $26.69   $25.56   $23.08

Average Monthly HSI Revenue per HSI Customer          $39.38   $38.41   $37.00

Digital Cable

Digital Customers                                     495.7    483.4    420.5

Digital Penetration of Basic Cable Customers          69.0%    67.1%    59.9%

Digital Revenue                                       $31,357  $31,770  $28,619

Average Monthly Digital Revenue per Basic Customer    $14.54   $14.66   $13.69

Average Monthly Digital Revenue per Digital Customer  $21.38   $22.18   $23.08

Telephone

Telephone Universe (marketable homes)                 1,267.2  1,259.6  1,237.4

Telephone Customers                                   311.4    306.2    249.6

Telephone Penetration                                 24.6%    24.3%    20.2%

Telephone Revenue                                     $38,622  $37,500  $28,163

Average Monthly Telephone Revenue per Basic Customer  $17.91   $17.30   $13.47

Average Monthly Telephone Revenue per Telephone       $41.63   $41.15   $38.99
Customer

Advertising Revenue

Advertising Revenue                                   $8,454   $8,499   $10,803

Average Monthly Advertising Revenue per Basic         $3.92    $3.92    $5.17
Customer

Other Revenue

Other Revenue                                         $15,147  $15,178  $15,064

Average Monthly Other Revenue per Basic Customer      $7.02    $7.00    $7.21






    Source: Insight Communications Company

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