WOW! Announces Preliminary Results For The Third Quarter Ended September 30, 2016
WOW! Internet, Cable & Phone ("WOW!"), a leading, fully integrated provider of residential and commercial high-speed data, video and telephony services to customers in the United States, announced preliminary summary...
WOW! Internet, Cable & Phone ("WOW!"), a leading, fully integrated provider of residential and commercial high-speed data, video and telephony services to customers in the United States, announced preliminary summary financial results and subscriber information for the third quarter ended September 30, 2016, as part of a presentation today at the Morgan Stanley Global High Yield Conference. For the third quarter ended September 30, 2016, WOW! announced that it will report Total Revenue of $311.2 million, Net Loss of ($12.4) million and Adjusted EBITDA of $115.7 million (1) (2) (3). WOW! is also pleased to be able to report improvement in customer and subscriber metrics during the third quarter ended September 30, 2016. Specifically, the Company added approximately 2,700 HSD RGUs (before the results of NuLink are included). Subscriber information as of September 30, 2016, is as follows (3):
______________________ (1)Refer to " Definitions of Non-GAAP Financial Measures and Operating Metrics" in this release for definitions and information related to Adjusted EBITDA and financial, operating and customer information.(2)The Company has not yet filed its Form 10-Q quarterly report for the period ended September 30, 2016, therefore, financial results and other information presented in this press release related to the three months ended September 30, 2016, could differ materially from the information contained in the Company's Form 10-Q quarterly report when such report is ultimately furnished to the United States Securities and Exchange Commission ("SEC").(3)NuLink was acquired on September 9, 2016, therefore, financial results for the period September 9, 2016 through September 30, 2016, and customer information at September 30, 2016, are included in Consolidated September 30, 2016, results.About WOW! WOW! is one of the nation's leading providers of high-speed Internet, cable TV, and phone serving communities in the U.S. Our operating philosophy is to deliver an employee and customer experience that lives up to its name. WOW! is privately owned by Avista Capital Partners and Crestview Partners. ( www.wowway.com) About Avista Capital Partners Avista Capital Partners is a leading private equity firm with approximately $6 billion under management and offices in New York, Houston and London. Founded in 2005, Avista makes controlling or influential minority investments in growth-oriented healthcare, industrial and communications businesses. Through its team of seasoned investment professionals and industry experts, Avista seeks to partner with exceptional management teams to invest in and add value to well-positioned businesses. ( www.avistacap.com) About Crestview Founded in 2004, Crestview Partners is a value-oriented private equity firm focused on the middle market. The firm is based in New York and manages funds with over $7 billion of aggregate capital commitments. The firm is led by a group of partners who have complementary experience and distinguished backgrounds in private equity, finance, operations and management. Crestview's senior investment professionals primarily focus on sourcing and managing investments in each of the specialty areas of the firm: media, energy, financial services, healthcare and industrials. ( www.crestview.com) Forward-Looking Statements This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, are forward-looking statements. Forward-looking statements are not guarantees of future performance and we caution you not to place undue reliance on such statements. Forward-looking statements are generally identifiable by the use of the words "may," "will," "should," "expect," "anticipate," "estimate," "believe," "intend," "project," "continue," or the negative of these words, or other similar words or terms. The forward-looking statements included in this release are made as of the date hereof. Except as required by law, we assume no obligation to publicly update any forward-looking statement, even if new information becomes available in the future. Actual results may differ materially from those expected because of various risks and uncertainties, many of which are beyond our control. You should review our filings with the SEC, including the section titled "Risk Factors" contained in our Annual Report on Form 10-K filed with the SEC on March 17, 2016.