The Tribune

By NEIL HARTNELL Tribune Business Editor CABLE Bahamas' chairman has pledged to "revolutionise" the Bahamian communications industry through being the first 'Triple Play' service provider, the company's net income for the nine months to end-September rising 7.57 per cent to $15.3 million. Writing to shareholders on the BISX-listed operator's 2012 third quarter results, Philip Keeping said the completion of its IndiGo Networks/System Resource Group (SRG) acquisition and launch of the RevVoice fixed-line telecoms offering had realised Cable Bahamas' 'Triple Play' ambitions. "As a formidable voice provider, it is without question an exciting time for Cable Bahamas and its customers as history continues to be made as we revolutionise the industry and country with our suite of products: RevTV, RevOn and ReVoice," Mr Keeping said. Assessing Cable Bahamas' third quarter performance, Mr Keeping said revenues rose year-over-year 16.4 per cent to $25.9 million, with the nine-month top-line increasing 9.9 per cent over 2010 to $73.2 million. "RevOn Internet revenues for the nine months to September 30 also rose 3.3 per cent to $21.5 million over the same period in 2010, while data top-line grew 2.1 per cent to $10.6 million," Mr Keeping said. "The achievement of these increases is attributable to the fact that we are constantly reviewing our offerings, as we continue our commitment of maintaining and ensuring the stability and robustness of our services." Cable Bahamas operating expenses for the 2011 third quarter and first nine months rose 14.9 per cent and 13.8 per cent, respectively, to $13.7 million and $40.7 million. "We have experienced increases in cost in all areas of the business compared to 2010," Mr Keeping said. "Although our operating expenses did increase compared to 2010, our earnings before interest, depreciation, taxation and amortization (EBITDA) rose 5.3 per cent to $32.5 million. "Compared to the three-month period ended September 30, 2010, EBITDA rose 18.2 per cent to $12.3 million. Year-to-date net income also increased over the 2010 results by 7.57 per cent to reach $15.3 million."