US cable operator Mediacom Communications posted a fourth quarter 2008 loss of USD70 million compared to a USD37 million loss in the same quarter of 2007. Revenues increased 8.3% year-on-year to USD360.2 million from USD332.5 million. Adjusted operating income before depreciation and amortisation (OIBDA) rose 8.4% to USD129.6 million, while operating income rose 37.5% to USD73.7 million. Average monthly revenue per basic subscriber increased 8.9% to USD90.88.
For the full year 2008 revenues increased 8.4% to USD1.4 billion. Adjusted OIBDA rose 10.6% to USD512.0 million as operating income grew 25.4% to USD278.9 million. The operator acquired 222,000 new revenue generating units (RGUs) throughout 2008 to reach a total of 2.9 million as of 31 December 2008.
‘It was an excellent year for us, as we solidly executed in all aspects of our business,’ stated Rocco B. Commisso, Mediacom’s CEO. ‘Despite worsening economic conditions in 2008, we produced record RGU growth…and generated our highest annual growth rate in adjusted OIBDA since 2002.’