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Insight Results Boosted by High-Speed Data

Oct 29, 2004  •  Post A Comment

Cable operator Insight Communications on Friday reported a narrowed third-quarter loss, as the company followed the lead of other cable companies and posted strong subscriber gains in high-speed data.

The New York-based company, which has 1.3 million basic cable subscribers, reported a third-quarter loss of $5.5 million, or 9 cents a share, compared with red ink of $8.3 million, or 14 cents a share. Revenue rose 10 percent to $250.5 million.

During the quarter Insight said it added a record 37,600 new high-speed data customers, a 30 percent increase over the 2003 quarter, to reach 311,500 total customers. On a revenue basis, high-speed data surged 40 percent.

The company also added 21,200 digital cable customers to bring its total to 439,400, or a 36 percent penetration rate.

Insight saw modest growth in the basic cable arena, even in light of stiff competition from satellite operators. The company added 1,200 new basic cable customers in the quarter.