Wednesday, March 16, 2005

Cox Reports its Strongest Quarter for Telephony

Cox Communications reported Q4 growth in all its service offerings, including a record number of net additions of telephone subscribers. Total revenues for the fourth quarter of 2004 were $1.7 billion, an increase of 11% over Q4 2003.

For the fourth quarter of 2004, Cox:

  • Ended the quarter with over 6.6 million total customer relationships, up 1.0% from December 31, 2003.

  • Ended the quarter with approximately 12.6 million total RGUs, up 10% from December 31, 2003, driven by 23% growth in advanced-service RGUs year-over-year.

  • Added 58,825 Cox Digital Cable customers, ending the quarter with over 2.4 million digital cable customers, representing year-over-year customer growth of 13%. Cox Digital Cable is now available to 99% of the homes in Cox's service areas with 38% penetration of our basic video customer base.

  • Added 140,691 high-speed Internet customers, ending the quarter with approximately 2.6 million high-speed Internet customers, representing year-over-year growth of 29%.

  • Added 89,119 Cox Digital Telephone customers, the most Cox Digital Telephone customers ever added in a quarter. Cox ended the quarter with over 1.3 million telephone customers, representing year-over-year growth of 32%.

  • Generated $554.8 million in cash flows provided by operating activities and $173.6 million in free cash flow (cash flows provided by operating activities less capital expenditures).

  • Generated 11% revenue growth during the quarter and 12% revenue growth during the year ended December 31, 2004, compared with the same periods in 2003.

"Our bundled customer penetration signals that Cox customers are embracing multiple communications and entertainment services from a single provider they trust. In fact, we expect the number of advanced revenue generating units will soon surpass the number of basic cable customers we serve, illustrating that we've truly arrived as a full service broadband communications company."