Suddenlink Profits $22.1M in Q3
ST. LOUIS -- Cequel Communications Holdings I, LLC ("Cequel," and together with its subsidiaries, the "Company" or "Suddenlink") today reported financial and operating results for the three and nine months ended September 30, 2012. In addition, the Company announced that it has received substantially all approvals for the acquisition of equity interests announced July 18, 2012, and currently expects that acquisition to close this month.
"Our third quarter performance adds to our long track record of successful operating results, with pro forma revenue growth of 6.1 percent; adjusted EBITDA growth of 7.6 percent; and ARPU growth of 9.6 percent," said Suddenlink Chairman and Chief Executive Officer Jerry Kent. "We are well positioned to build on this track record as we continue to improve customer satisfaction ratings and near completion of the Company's acquisition by management and new investors."
Income from operations for the third quarter 2012 was $93.3 million, an increase of 28.8%, compared to $72.4 million for the third quarter 2011 due to revenue increases year-over-year outpacing operating, selling and administrative and depreciation and amortization expense increases.
Net income was $22.1 million for the third quarter 2012, compared to net loss of $5.2 million for the third quarter 2011.