POSTED: 12:41 a.m. HST, Aug 4, 2014
LAST UPDATED: 8:49 a.m. HST, Aug 4, 2014
Hawaiian Telcom signed up a record 2,800 television subscribers in the second quarter as it continued to make inroads into rival Oceanic Time Warner's commanding market share.
The state's largest phone company said in its midnight Monday earnings release that it now has 23,100 subscribers for Hawaiian Telcom TV, resulting in penetration of 16.3 percent of households "enabled."
About 142,000 homes on Oahu have been "enabled" to receive the TV service as a result of Hawaiian Telcom's effort to expand its fiber-optic network on Oahu. Once a neighborhood is enabled, Hawaiian Telcom, which launched the TV service in mid-2011, begins to offer the TV service to residents in that area.
HawTel's net income fell 43.3 percent to $2.2 million, or 20 cents a share, from $4 million, or 36 cents a share, in the year-earlier period when there were one-time items that affected earnings. Those items included a $6.5 million gain from the sale of property and a $3.7 million loss for the early retirement of debt.
Revenue slipped 0.2 percent to $96.8 million from $97 million.