China Cablecom Holdings, Ltd. reported that sales in the first quarter of 2010 were $13.4 million, compared to $10 million in the first quarter of 2009. The management of the company attributed the large increase to strong growth in its subscriber base, and higher subscription and installation fees.
Clive Ng, the Executive Chairman of China Cablecom Holdings, Ltd., said, “We are so pleased to be reporting such a strong quarter. The performance of both operations in Binzhou and Hubei have exceeded our expectations and delivered significant growth in revenues, EBITDA, subscription, digitization and ARPU.”
China Cablecom Holdings, Ltd. reported that the company’s Hubei segment had sales of $10.3 million in the first quarter of 2010, and added 40,000 subscribers during the quarter. The company reported that the company’s Binzhou segment had sales of $3.1 million in the first quarter of 2010.
China Cablecom Holdings, Ltd. provides cable television services in China in a joint venture ownership structure. The company has a 60% economic ownership in the Binzhou segment and a 55% economic ownership in the Hubei segment.
China Cablecom Holdings, Ltd. updated its guidance for 2010 and said that revenues for the full year will be between $50 million and $55 million. This guidance is based on a total of 1.8 million subscribers for the year.
For more information on the company, go to www.chinacablecom.net
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