Exhibit 99.1

 

Contact:

Lucas Binder

VP Corporate Development & Investor Relations

 

303-927-4951

 

lucas.binder@wowinc.com

 

WOW! REPORTS FIRST QUARTER 2018 RESULTS

 

ENGLEWOOD, Colo. (May 11, 2018)

— WideOpenWest, Inc. (“WOW!” or the “Company”) (NYSE: WOW), a leading, fully integrated provider of residential and commercial high-speed data, video and telephony services to customers in the United States, today announced financial and operating results for the first quarter ended March 31, 2018.

 

First Quarter 2018 Highlights (1)

 

·                  Total Subscriber net additions of 7,000

·                  Achieved HSD RGU net additions of 8,700  and HSD RGU net additions of 6,600, excluding net additions from Edge-Outs

·                  Total Revenue of $285.5 million; Net Loss of $(202.7) million; Loss Per Share of $(2.40)

·                  Adjusted EBITDA of $96.3 million; Adjusted Diluted Earnings Per Share of $0.19

·                  Business Services Subscription Revenue, Including Acquisitions and Dispositions, grew 14.6% over the first quarter of 2017

·                  Total Edge-Out projects have extended the network to 107,400 homes passed; 2017 Edge-Out Nodes have achieved almost 24% penetration and 2016 Edge-Out Nodes near 32% penetration

·                  Completed launch of 1 gig service across 95% of WOW! network

·                  Completed previously announced $50.0 million common stock buyback; acquiring more than 5.0 million shares through the end of the first quarter of 2018

·                  Board of Directors approves new $25.0 million stock buyback program; Crestview Partners plans to purchase up to an additional $25.0 million

·                  Entered into interest rate swap agreements for a notional amount that covers 60% of the outstanding principal balance of floating rate debt

 

Financial Highlights

 

For the quarter ended March 31, 2018, WOW! reported Total Revenue of $285.5 million, down $14.5 million, or 4.8%, compared to the quarter ended March 31, 2017. The Company reported first quarter 2018 Net Loss of $(202.7) million, including the impact of $256.4 million impairment loss of intangibles and goodwill, and Adjusted EBITDA of $96.3 million.

 

“We are encouraged by the progress we’ve made,” said Teresa Elder, chief executive officer of WOW!. “WOW! returned to positive organic HSD RGU growth, and we have begun investing in our strategic initiatives in Sales and Marketing, Customer Care, and Digital Transformation. We’re still early in the process, but we are executing on our vision of connecting people to their world through the WOW! experience by being reliable, easy, and pleasantly surprising, every time.”

 

“Adjusted EBITDA was in-line with our expectations and we reiterate our guidance for 2018,” said Rich Fish, chief financial officer of WOW!. “We remain encouraged by the early indications from our investments in customers and people.”

 


The following information was filed by Wideopenwest, Inc. (WOW) on Friday, May 11, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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