Strong cable results for cablevision: but programming unit drags on numbers.(FINANCE)
Multichannel News, August, 2005 by Farrell, Mike
Cablevision Systems Corp. reported strong second-quarter results by its cable operations--basic customers rose by nearly 21,000 and voice subscribers increased by 114,000 since March 31--but weakness at its Rainbow Media Holdings programming networks drove down overall results. Overall revenue was up 6% to $1.2 billion versus the same quarter a year ago, but adjusted operating cash flow decreased 14%, mainly due to weakness at Rainbow.
In the telecommunications segment, which includes Cablevision's cable operations, revenue rose 16% to $855.6 million and AOCF rose 13% to $337.2 million. Cablevision continued strong basic-subscriber growth: its 20,757 new basic-video customers was its fifth consecutive quarter of basic subscriber adds. ...
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