Cable One, Inc. (NYSE: CABO) has reported financial and operating results for the quarter ended September 30, 2017, the company said.
Revenues increased USD 48.3 million, or 23.5%, due primarily to USD 47.5 million in revenues attributable to the NewWave operations. For the third quarter of 2017 and 2016, residential data revenues comprised 43.1% and 42.2% of total revenues and business services revenues comprised 13.9% and 12.4% of total revenues, respectively.
Excluding the USD 47.5 million contribution from NewWave in the third quarter of 2017, revenues increased to USD 206.4 million from USD 205.5 million in the prior year quarter. The third quarter of 2017 was negatively impacted by an estimated USD 1.6 million loss in revenues from waived service offering charges associated with Hurricane Harvey.
Operating expenses (excluding depreciation and amortization) were USD 91.9 million in the third quarter of 2017 and increased USD 16.3 million, or 21.5%, compared to the third quarter of 2016. Operating expenses as a percentage of revenues were 36.2% for the third quarter of 2017 compared to 36.8% for the year-ago quarter.
Cable One, Inc. is the seventh-largest cable company in the United States. Serving nearly 800,000 residential and business customers in 21 states with high-speed internet, cable television and telephone service, Cable ONE provides consumers with a wide range of the latest products and services, including wireless internet service, high-definition programming and phone service with free, unlimited long-distance calling in the continental US