Cable One, Inc. (CABO) has reported a 7.53 percent rise in profit for the quarter ended Sep. 30, 2016. The company has earned $20.87 million, or $3.63 a share in the quarter, compared with $19.41 million, or $3.30 a share for the same period last year.
Revenue during the quarter grew 3.69 percent to $205.54 million from $198.22 million in the previous year period. Total expenses were 78.68 percent of quarterly revenues, down from 80.33 percent for the same period last year. This has led to an improvement of 165 basis points in operating margin to 21.32 percent.
Operating income for the quarter was $43.82 million, compared with $39 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $87.16 million compared with $77.42 million in the prior year period. At the same time, adjusted EBITDA margin improved 334 basis points in the quarter to 42.40 percent from 39.06 percent in the last year period.
"Our strong financial performance generated over the past year continued in the third quarter," said Tom Might, chairman and chief executive officer of Cable ONE. "Our Adjusted EBITDA margins have increased more than 300 basis points from 39.1% to 42.4% during the last year, fueled by our residential HSD and Business Services revenue growth."
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
