We ended the quarter with healthy pro forma operating cash flow growth of 10%, strong pro forma revenue growth of 12% and achieved steady basic customer growth of 1.3% as compared to the first quarter of 2000.
He continued, we also added 271,000 new-service revenue generating units (RGUs) in the first quarter, putting us on track to achieve our stated goal of adding more than 1 million new-service RGUs during 2001. These strong results were driven in part by the success of our self-installation efforts and retail sales for cable modems in a number of our markets.
Additionally, we experienced vigorous growth in residential telephone service, adding about 4,000 customers per week by the end of March, achieving 11% penetration of telephone ready homes.
Robbins added: Our bundling strategy is continuing to yield positive results. Company-wide, we now have 750,000 households that subscribe to at least two or three Cox products. Our bundled customers are proving to be our most loyal, as the product retention rates are higher in bundled households versus single product homes.
Based on Cox’s strong RGU growth this quarter, Robbins said that the company expects to achieve operating cash flow growth of 11% to 12% for the second quarter. Additionally, he noted that Cox expects to remain on track to achieve its previously stated year-end 2001 financial guidance of operating cash flow growth of 12% to 13% over 2000; total revenue growth of 14% to 16% over 2000; 1.5% to 2.0% basic customer growth over 2000; capital expenditures of approximately $2 billion; and the addition of 1.0 to 1.1 million new-service RGUs over 2000.
