Charter Reports Fourth Quarter and Full Year Financial and Operating Results
Wednesday, February 27th, 2008ST. LOUIS — Charter Communications, Inc. (NASDAQ: CHTR) (along with its subsidiaries, the “Company” or “Charter”) today reported its fourth quarter and full year 2007 financial and operating results.
Key Operating Results
All of the following customer growth and ARPU statistics are presented on a pro forma basis. Charter added a net 199,100 RGUs during the fourth quarter of 2007, and for the full year added 835,900 RGUs, a 15.3% increase in RGU net adds over 2006. As of December 31, 2007, Charter served approximately 5,596,300 customers and the Company’s 11,782,100 RGUs were comprised of 5,219,900 analog video, 2,920,400 digital video, 2,682,500 HSI, and 959,300 telephone customers.
- Telephone customers increased by approximately 155,300 in the fourth quarter of 2007, the most quarterly phone net additions in Charter history. The Company added 513,000 customers during the year 2007, ending the year at 10.6% penetration.
- HSI customers increased by approximately 50,500 in the fourth quarter of 2007 and by 289,100 during the year 2007. HSI ARPU increased 4.8% compared to the fourth quarter of 2006, primarily due to content improvements and customers purchasing enhanced speeds.
- Digital video customers increased by approximately 59,700 in the fourth quarter of 2007 and analog video customers decreased by 66,400. For the full year, the company gained 150,100 digital video customers and lost 116,300 analog video customers. Video ARPU increased 5.8% compared to the fourth quarter of 2006 due to growth in revenue from advanced services and rate adjustments.
- Fourth quarter 2007 total ARPU increased 12.9% to $97.99 from the same period in 2006, driven primarily by bundling, advanced services growth, and upgrading customers to higher Internet speeds and programming tiers.
CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES UNAUDITED SUMMARY OF OPERATING STATISTICS Approximate --------------------------------------- Actual Pro Forma as of ------------ -------------------------- December 31, September 30, December 31, 2007 2007 2006 ------------ ------------ ------------ Video Cable Services: Video: Estimated homes passed 11,847,600 11,641,300 11,519,000 Video customers 5,219,900 5,286,300 5,336,200 Estimated penetration of video homes passed 44.1% 45.4% 46.3% Pro forma video customers quarterly net gain (loss) (66,400) (38,700) (40,700) Digital Video: Estimated digital video homes passed 11,753,300 11,546,400 11,385,000 Digital video customers 2,920,400 2,860,700 2,770,300 Estimated penetration of digital homes passed 24.8% 24.8% 24.3% Digital penetration of video customers 55.9% 54.1% 51.9% Digital set-top terminals deployed 4,192,700 4,125,400 3,985,600 Pro forma digital video customers quarterly net gain 59,700 16,700 41,100
At September 30, 2007 actual video customers, digital video customers, high-speed Internet customers and telephone customers were 5,347,800, 2,882,900, 2,639,200, and 802,600, respectively.
At December 31, 2006 actual video customers, digital video customers, high-speed Internet customers and telephone customers were 5,433,300, 2,808,400, 2,402,200, and 445,800, respectively.
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