Cable One, Inc. (NYSE: CABO) has reported financial and operating results for the quarter ended September 30, 2018, the company said.
Residential data and business services data PSUs totaled 660,799 at September 30, 2018 compared to 653,876 at June 30, 2018, an increase of 6,923, or 1.1%. Combined residential data and business services data PSUs increased 23,146, or 3.6%, year-over-year.
Total revenues were USD 268.3 million in the third quarter of 2018 compared to USD 253.8 million in the third quarter of 2017, an increase of 5.7%. Residential data revenues increased 13.0% and business services revenues increased 12.6% year-over-year.
Net income was USD 38.3 million in the third quarter of 2018, an increase of 24.0% year-over-year. Adjusted EBITDA(1) was USD 122.7 million, an increase of 6.1% year-over-year. Net profit margin was 14.3% and Adjusted EBITDA margin(1) was 45.7%.
Net cash provided by operating activities was USD 111.0 million in the third quarter of 2018, an increase of 24.8% year-over-year. Adjusted EBITDA less capital expenditures(1) was USD 54.4 million in the third quarter of 2018 compared to USD 63.2 million in the third quarter of 2017, with the decrease due primarily to the timing of capital spending.
Cable ONE (NYSE: CABO) is among the 10 largest cable companies in the United States and a broadband communications provider. Serving residential and business customers in 21 states, Cable ONE provides consumers with a wide array of communications and entertainment services, including high-speed Internet and advanced Wi-Fi solutions, cable television and phone service. Cable ONE Business provides scalable and cost-effective products for businesses ranging in size from small to mid-market, in addition to enterprise, wholesale and carrier customers.