May 07, 2008
First Quarter 2008 Financial Highlights
-- Revenues increased 10.3% to $339.7 million
-- Adjusted operating income before depreciation and amortization ("Adjusted OIBDA") rose 17.1% to $125.8 million(1)
-- Operating income rose 23.5% to $64.6 million
-- Average monthly revenue per basic subscriber increased 14.2% to $85.45
-- Revenue generating units ("RGUs") grew by 78,000, more than triple the RGU additions in the prior year period
"While we expected that our financial and operating performance this quarter would benefit from comparisons to an unusually weak prior year period, we significantly surpassed expectations and produced record results, giving us a great deal of momentum for the balance of 2008," said Rocco B. Commisso, Mediacom's Chairman and CEO. "Our quarterly RGU additions were the best ever, and we generated the highest year-over-year Adjusted OIBDA growth in over five years. Moreover, for the first time since early 2005, we grew basic subscribers sequentially."
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