Cable One, Inc. (CABO) has reported a 22.82 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $33.22 million, or $5.80 a share in the quarter, compared with $27.04 million, or $4.65 a share for the same period last year.
Revenue during the quarter went up marginally by 2.28 percent to $207.43 million from $202.80 million in the previous year period. Total expenses were 70.90 percent of quarterly revenues, down from 76.64 percent for the same period last year. This has led to an improvement of 573 basis points in operating margin to 29.10 percent.
Operating income for the quarter was $60.35 million, compared with $47.38 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $97.86 million compared with $85.41 million in the prior year period. At the same time, adjusted EBITDA margin improved 507 basis points in the quarter to 47.18 percent from 42.11 percent in the last year period.
"Our strong results over the past two years continued in the first quarter of 2017," said Julie Laulis, president and chief executive officer of Cable ONE. "We believe our acquisition of NewWave Communications, which closed on May 1, 2017, will provide an opportunity for additional growth in the future."
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