Steady as She Goes at RCN Metro

November 3rd, 2009 by · 1 Comment

RCN Business (NASDAQ:RCNI, news, filings) reported earnings this morning, checking in with revenues of $192M and EBITDA of $56M for the overall business.  While others will probably dissect their main consumer/SME cable business, it is the RCN Metro segment that I generally follow and this quarter these are the first pure public numbers from the metro fiber segment.  

Revenues for RCN Metro were $48.0M, up from $47.2M in the second quarter, and similarly EBITDA was $17M, up from $16M in the prior quarter.  Margins expanded again to 34.3%, and capex remained basically flat.  There are no published analyst estimates that I know of for just this segment, however these results seem in line to me.  Nothing blockbuster, just more of the steady growth we have seen from metro fiber throughout the recession.

There are more metro-fiber-related earnings reports coming of course.  Next up this week will be TW Telecom (NASDAQ:TWTC, news, filings) on Wednesday and both PAETEC (news, filings) and abvt on Thursday.  Early next week we will hear from Cogent Communications (NASDAQ:CCOI, news, filings).   So far, the fireworks have been few and far between this earnings season, but growth is good regardless and I expect we will see more of it.

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Categories: Financials · Metro fiber

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