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About Cable One, Inc.

Sparklight (formerly Cable ONE) gives small-town folk CNN and The Cartoon Network. The company provides cable television service primarily to non- metropolitan, secondary, and tertiary markets. Its core service areas are the Gulf Coast region and Boise, Idaho. Approximately 773,000 subscribers receive data services from Sparklight, some 314,000 subscribers to video services, and around 139,000 subscribers to voice services. The company also offers voice-over-Internet-protocol (VoIP) computer telephony and digital video services. Quarter-fifth of revenue comes from Residential. In 2019, the company rebrand its business as Sparklight.


Sparklight has its four primary product lines: Residential data, Residential video, Residential voice, and Business services.

Residential data services represent about 50% of the company's total revenues. It offers simplified data plans with lower pricing and higher speeds across its premium tiers. The product line also offer its customers the option to purchase an unlimited data plan and advanced Wi-Fi service.

Residential video services offer a broad variety of residential video services including: basic video service that consists of governmental and public access network and weather, shopping and religious channels; and digital video service includes music channels and an interactive, electronic programming guide with parental controls. It also offers premium channels such as HBO, Showtime, Starz and Cinemax. The product line generates nearly 30% of revenue.

Residential voice services account for less than 5% of revenue and offers transmit digital voice signals over its network and are interconnected Voice over Internet Protocol (VoIP) services. It also offers traditional telecommunications services through some of the company's subsidiaries.

Business services (produce more than 15% of revenue) offer services for businesses ranging in size from small to mid-market, in addition to enterprise, wholesale, and carrier customers. The offer for its small businesses are generally provided over the company's coaxial network. It offer delivery of data and voice services over EPON technology primarily for mid-market customers with Piranha Fiber. Furthermore, it also offer dedicated bandwidth and Enterprise Wi-Fi in addition to multiple voice services via fiber optic technology for its enterprise and wholesale customers.

Geographic Reach

Sparklight has operations in more than 20 states throughout the midwestern, southern, and western US.

The company's headquarters is located in Phoenix, Arizona. It has customers in Arizona, Idaho, Illinois, Mississippi, Missouri, Oklahoma, and Texas.

Sales and Marketing

Sparklight has about 80% of its customers located in more than five states. In addition, its biggest customer concentrations are in the Mississippi Gulf Coast region and in the greater Boise, Idaho region.

The total amount of advertising expense recorded was $34.3 million, $28.6 million, and $25.3 million in 2019, 2018, and 2017, respectively.

Financial Performance

Sparklight's revenue growth have been solid for the last five years, posting a 45% increase since 2015.

Revenues increased $95.7 million in 2019 to $1.2 billion, or 9%, due primarily to increases in residential data and business services revenues of $54.4 million and $48.5 million, respectively. The increase was the result of organic growth in its higher margin product lines of residential data and business services, the acquired Fidelity and Clearwave operations, a residential video rate adjustment and the implementation of modem rental charges to certain business customers, partially offset by decreases in residential video and other revenues.

Net income for the year increased by 8% to $178.6 million mainly due to higher revenue.

Cash at the end of the year was $125.3 million, 53% lower from prior year. Net cash provided by operating activities was $491.7 million and the cash provided by the financing activities was $503.7 million. Investing activities used $1.1 billion for purchase of business and capital expenditures.


The company has a multi-faceted strategy that builds upon its long track record of focusing on the right markets, the right products and the right customers, as well as controlling its operating and capital costs. More specifically, its strategy includes the following principal components: Focus on non-metropolitan markets by continuing on offering products primarily in these markets. Because price points for services in non-metropolitan markets are generally lower, and customers in non-metropolitan markets tend to subscribe to fewer PSUs, its average revenue per customer and its PSUs per customer are lower than they might be in metropolitan markets; Maximize Adjusted EBITDA less capital expenditures and drive profitable growth; Target higher relative value residential customers; Drive growth in residential data and business services by diversifying its revenue streams away from video; Continue its culture of cost leadership; Balanced capital allocation by committing to a disciplined approach to evaluating acquisitions, internal and external investments, capital structure optimization and return of capital.

Mergers and Acquisitions

In late 2019, Sparklight acquired Fidelity Communications Co. (Fidelity) for about $525 million. Fidelity's network passes about 190,000 homes in Arkansas, Illinois, Louisiana, Missouri, Oklahoma, and Texas. Fidelity counts some 114,000 residential and 20,000 business customers. The network fits into Cable ONE's geographic footprint.

In early 2019, the company acquired Delta Communications (Clearwave) for a purchase price of $358.8 million in cash on a debt-free basis. Clearwave is a facilities-based service provider that owns and operates a high-capacity fiber network offering dense regional coverage in Southern Illinois. The acquisition provides the company with a premier fiber network within its existing footprint, further enables them to supply its customers with enhanced business services solutions and provides a platform to allow the company to replicate Clearwave's strategy in several of its other markets.

Cable One, Inc.

210 E Earll Dr
Phoenix, AZ 85012-2626
Phone: 1 (602) 364-6000

Firm Stats

Employer Type: Publicly Owned
Stock Symbol: CABO
Stock Exchange: , NYSE
Senior Vice President, Chief Financial Officer: Kevin Coyle
President and COO: Julia M. Laulis
CEO: Thomas O. Might
Employees (This Location): 500
Employees (All Locations): 2,310

Major Office Locations

Phoenix, AZ

Other Locations

Anniston, AL
Ashdown, AR
Greenway, AR
Bisbee, AZ
Cottonwood, AZ
Globe, AZ
Holbrook, AZ
Prescott, AZ
Safford, AZ
Sioux City, IA
Boise, ID
Idaho Falls, ID
Lewiston, ID
Nampa, ID
Pocatello, ID
Twin Falls, ID
Taylorville, IL
Vandalia, IL
Westville, IL
Parsons, KS
Belle Chasse, LA
Monroe, LA
Shreveport, LA
Dexter, MO
Joplin, MO
Kirksville, MO
Batesville, MS
Biloxi, MS
Cleveland, MS
Columbus, MS
Grenada, MS
Long Beach, MS
Mccomb, MS
Natchez, MS
Pascagoula, MS
Yazoo City, MS
Fargo, ND
Norfolk, NE
Rio Rancho, NM
Roswell, NM
Ada, OK
Ardmore, OK
Bartlesville, OK
Duncan, OK
Elk City, OK
Frederick, OK
Ponca City, OK
Dyersburg, TN
Angleton, TX
Aransas Pass, TX
Borger, TX
El Campo, TX
Jasper, TX
Kingsville, TX
La Grange, TX
Merkel, TX
Odessa, TX
Port Lavaca, TX
Sherman, TX
Texarkana, TX