MI-Connection Board of Directors Meets:
FY 2016 Q2 Financial Data Positive
On Thursday, January 26, the MI-Connection Board of Directors met to review second quarter financial results.
MI-Connection CEO David Auger presented financial results of the second quarter of fiscal year 2017 as compared to the second quarter of fiscal year 2016. Total revenue is up 4.01%, EBIDA (earnings before interest, depreciation and amortization, a key metric used by cable operators to measure performance) is up 18.19% and total expenses are down .41% (largely due to payroll periods). Revenue generating units (RGUs) are up 1.51%, and customer relationships have grown 1.73% in FY17 Q2 versus FY16 Q2.
“Our customers have really embraced our ‘Whole Home DVR’ product and appreciate our customer service during installation,” said Auger.
Rates have increased as of February 1 – the local broadcast fee increased by $0.89 and the cable modem fee increased by $2.00.
The MI-Connection Board of Directors will meet again on April 27, 2017 at 6:30 p.m. in the Davidson Town Hall board room.
For more information on MI-Connection, please visit www.mi-connection.com and www.townofdavidson.org/miconnection.
MI-Connection is the community-owned and locally operated communications system proudly serving the towns of Mooresville, Davidson and Cornelius in the counties of Mecklenburg and Iredell in North Carolina. MI-Connection offers a Triple Play of Services including Cable TV, High-Speed Internet and Phone for both residences and businesses. For more information, visit www.mi-connection.com.