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Hawaiian Telcom Q2 consumer revenue increased 4.2 percent

Staff writer |
Hawaiian Telcom Holdco reported financial results for its second quarter ended June 30. Consumer revenue increased 4.2 percent year-over-year to $37.9 million, driven by growth in video and high-speed Internet (HSI) revenue of $2.8 million and $0.6 million, respectively.

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The company added 2,200 Hawaiian Telcom TV subscribers during the second quarter, ending the quarter with approximately 31,900 subscribers, resulting in penetration of 18.2 percent of households enabled.

Data center revenue increased 19.8 percent year-over-year to $2.8 million, driven by growth in colocation services and data security related sales.

Revenue totaled $96.2 million, compared to $96.8 million in the second quarter of 2014. Adjusted EBITDA of $29.8 million, up 2.6 percent year-over-year.

The company generated net income of $0.5 million, or $0.04 per diluted share for the quarter, compared to $2.2 million or $0.20 per diluted share in the same period a year ago. The decrease was primarily due to an anticipated $3.1 million year-over-year increase in depreciation and amortization as a result of significant investments to expand the Company's next-generation broadband fiber network.

Hawaiian Telcom enabled 9,000 households in the quarter, increasing enabled households on O'ahu to 175,000; and launched Hawai'i's fastest Internet service featuring 1 Gbps download speed, further leveraging the capability of the Company's next-generation fiber network.

Nearly $30 million of total capacity sales on the Southeast Asia – United tates (SEA-US) trans-Pacific submarine fiber cable system to date, with additional capacity available to monetize further.

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