As new product and service offerings pick up steam, Cable Bahamas (CAB) has reported strong growth so far in 2012.
The launch of the BISX-listed firm's fixed line product, combined with CAB's new video-on-demand service, were both contributing factors to a revenue increase of 23.5 percent during the first three months of this year, coming in at $27.9 million.
Meanwhile, internet services have also experienced a gain of 4.9 percent, reaching $2.7 million compared to the same period last year.
"Our data sector contributed positively to the overall revenue growth by 3.3 percent, up from $2.5 million for the same period in 2011," CAB's latest report said. "Cumulatively these results highlight the strength and value of our products and services despite the current economic and competitive environment."
CAB has placed a great deal of stock into its triple play package, the first of its kind in The Bahamas. The company has been pushing for greater consolidation of these three services among consumers, which could ultimately lead to more efficient service and lower prices.
CAB has emerged as a leader in television, especially with the advent of video-on-demand. However, executives at the Bahamas Telecommunications Company (BTC) have recently noted that the firm plans to pursue a television product in the near future.
Marlon Johnson, BTC's vice president of marketing, sales and business development, said the company is "seriously exploring" the service, with tests likely to occur in the second half of the fiscal year, in the hopes of bringing a television product to market.
Like many other BISX-listed companies, operating expenses are a source of concern for CAB. For the first three months of the year, this segment grew more than $3 million compared to the same period in 2011. That said, earnings before interest, taxation depreciation and amortization rose nearly 22 percent for the first quarter.
Earnings per share also rose during this period to $0.47 compared to just $0.25 last year.
The company has prided itself on broadening the local offerings through televising local and international events of significance.
Perhaps most notably of late is the deal with the Broadcasting Corporation of The Bahamas (commonly known as ZNS) to achieve shared coverage of the London Olympic Games.
ZNS reportedly paid in the region of $300,000 for the service, and while the total paid out is unclear, sources close to the matter indicated CAB's fee could have been in excess of 50 percent.
"All of these accomplishments are a very significant contribution to the expanding broadcasting efforts in the country and certainly to the growth of our community channel - Cable 12," the CAB report said.
"Viewership numbers have increased 25 percent since we moved our signature program NB12 to seven days per week. The nightly newscast is gaining ground as a reputable and preferred source for news and information."
CAB's total assets rose 9.06 percent to $220.26 million, primarily from the purchase of SRG and equipment.

Click here to read more at The Nassau Guardian