Analysts bullish on Westinghouse. (second quarter 1996 financial results, including CBS Inc.)

Broadcasting & Cable, August, 1996 by McClellan, Steve

See encouraging signs despite second-quarter earnings loss Although Westinghouse still is very much in transition, analysts noted some positive trends in the company's broadcast segment (CBS) results for the second quarter, released last week. Westinghouse reported a net loss of $89 million (20 cents a share) for the second quarter due to write-offs linked to its industrial sector.

The company said the broadcasting group showed operating cash flow (earnings before interest, taxes, depreciation and amortization) of $267 million, versus $71 million a year ago, largely due to the CBS acquisition. On a pro forma basis, which includes CBS results in the year-ago quarter, that $267 million cash-flow figure represents an 8% gain on a 3% revenue hike, to $1.1...

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