China Cablecom Q4 and 2008 results
Friday, March 6th, 2009
China Cablecom, one of the largest cable operators in China, reported Q4 and 2008 results.
China Cablecom passed 2,4mln homes in Shandong (1mln) & Hubei Provinces (1,4mln). It has 1,5mln subscribers. China Cablecom has agreed to acquire further systems in the Hubei Province representing 1,5mln homes passed and 0,9m additional susbcribers.
Pro forma revenues for the twelve months ended December 31, 2008 were $36.6mln. Pro forma operating expenses for the twelve months ended December 31, 2008 were $23.8mln.
Based on U.S. GAAP net comprehensive loss for the twelve months ended December 31, 2008 was $13.9mln, or $1.87 per basic and fully diluted share.
These low revenues reflect the reality of the Chinese cable TV market where analogue ARPU still stands at less than $2 in general and digital arpu at no more than $4, including STB rental.