This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Consolidated Communications CEO Discusses Q3 2010 Results - Earnings Call Transcript

In addition, during this call, we will discuss certain non-GAAP financial measures. Our earnings release for this quarter's results, which has been posted to the Investor Relations section of our website, contains reconciliations of these measures to their nearest GAAP equivalent.

I will now turn the call over to Bob, who will provide an overview of our financial and operating results. Steve Childers will then provide a more detailed review of the financials. Bob?

Robert Currey

Thanks Matt, and good morning everyone. We appreciate you joining us today as we review our results for the quarter. And is our normal practice, I will start with high-level financial and operating highlights, and then Steve will provide a detailed review of those financials.

The third quarter was another solid one for us. Revenue and adjusted EBITDA were $95.6 million and $45.2 million respectively. We delivered another solid and secure return to our shareholders with a 73.1% payout ratio for the quarter and 69% year-to-date. With respect to our operating performance, I am pleased to report our total connections grew by 600 in the period, led by a record IPTV subscriber growth and industry-leading access line performance. We grew IPTV subscribers by 1,900 in the quarter and now serve 28,000. They are increasingly choosing our full suite of digital TV offerings. Our HD and DVR penetrations also increased in the quarter to 22% and 24% respectively. These additional services are becoming very popular and along with increased video on demand consumption, have helped drive our video ARPU to near $60 per sub.

Finally, with respect to IPTV, we hit a milestone this quarter by passing over 200,000 homes, and we currently penetrate 14% of these. We increased our total broadband connections by 3,400 in the quarter. This is the fourth consecutive quarter we have increased our broadband connections by more than our access line declines. This highlights our success in the multi-year transition from being a traditional voice telephone company to a leading provider of broadband services.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.64 -0.11%
FB $118.57 0.84%
GOOG $698.21 0.75%
TSLA $241.80 0.43%
YHOO $36.53 -0.19%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs