Mediacom Communications Reports Combined Results for Second Quarter 2018
MEDIACOM PARK, N.Y.--(BUSINESS WIRE)--Aug 2, 2018--MEDIACOM COMMUNICATIONS CORPORATION today released combined unaudited financial and operating highlights for the three months ended June 30, 2018.
Mediacom Combined Results for Second Quarter 2018*Revenues were $488.4 million, reflecting a 3.6% increase from the prior year period OIBDA was $185.1 million, reflecting a 3.1% increase from the prior year period Capital expenditures were $76.9 million, compared to $89.1 million in the prior year period Free cash flow was $86.6 million, compared to $64.1 million in the prior year period Ending primary service units (“PSUs”) of 2,658,000, a 4.9% increase from June 30, 2017 Ending customer relationships of 1,368,000, a 0.3% increase from June 30, 2017 Total leverage ratio of 3.35x, compared to 3.78x at June 30, 2017 Interest coverage ratio of 8.59x, compared to 6.82x at June 30, 2017 Ending total debt of $2,480.0 million, a $235.0 million reduction from June 30, 2017
Reference to “Mediacom Combined” reflects the combined results of Mediacom Broadband LLC and Mediacom LLC, eliminating intercompany amounts. Mediacom LLC information is being voluntarily provided, as Mediacom LLC’s contractual obligation to file reports with the Securities and Exchange Commission (“SEC”) terminated in February 2017. Mediacom Combined information is being provided for convenience and informational purposes, and does not modify or supplement the previously released separate financial results of Mediacom Broadband LLC. Holders of Mediacom Broadband LLC debt should refer to its separate financial and operating results, which were previously released and furnished with the SEC on Form 8-K on August 2, 2018.
Mediacom Communications Corporation is the 5th largest cable operator in the U.S. serving almost 1.4 million customers in smaller markets primarily in the Midwest and Southeast. Mediacom offers a wide array of information, communications and entertainment services to households and businesses, including video, high-speed data, phone, and home security and automation. Through Mediacom Business, the company provides innovative broadband solutions to commercial and public sector customers of all sizes, and sells advertising and production services under the OnMedia brand. More information about Mediacom is available at www.mediacomcable.com.
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