DAVIDSON, N.C. – On Thursday, August 23, the Continuum Board of Directors met to review financial results for FY 2018, which ended June 30, and compare last quarter to the same quarter a year ago. Data has not been externally audited, but are preliminary and still subject to external audit.
Quarter Comparison
Revenue is up .89% when comparing Q4 2018 to Q4 2017 and total expenses decreased by 4.23% in Q4 2018 compared to Q4 2017. EBIDA (Earnings before interest, depreciation and amortization, a key metric used by cable operators to measure performance) increased by 15.77% from Q4 FY 2017 to Q4 FY 2018. Average revenue per customer is even.
“We are so pleased with the upward trajectory over the last four months of EBIDA indicating that our overall performance is strong,” said Continuum CEO David Auger. “We anticipate continued EBIDA growth in future quarters based on the groundwork we’ve laid.”
FY 2018 (unaudited) vs. FY 2017
Financially, year-over-year, FY 2018 revenue fell behind FY 2017 by .79%. EBIDA declined by 3.49% from FY 2017 to FY 2018. Average revenue per customer is down .72% from FY 2017 to FY 2018. Continuum gained 167 customers during FY 2018.
Continuum made a contribution of $3.15 million in debt payment to the Town of Mooresville for FY 2018, and projected a payment of $3.48 million in the FY 2019 budget. The amount the Towns of Mooresville and Davidson made to the debt payment for FY 2018 was $3.23 million and the projected payment for the towns in FY 2019 is $2.94 million. Continuum’s contribution toward the debt is projected to exceed the towns’ contributions in FY 2019.
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