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Charter Communication's CEO Discusses Q3 2011 Results - Earnings Call Transcript

Various remarks that we make on this call concerning expectations, predictions, plans and prospects constitute forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ from historical or anticipated results. Any forward-looking statements reflect management’s current view only and Charter undertakes no obligation to revise or update such statements or to make additional forward-looking statements in the future.

During the course of today’s call, we’ll be referring to non-GAAP measures as defined and reconciled in this morning’s earnings release. These non-GAAP measures as defined by Charter may not be comparable to measures with similar titles used by other companies. In today’s earnings release, we reported results in accordance with GAAP as well as pro forma results for 2010 and 2011.

The pro forma results reflect the divestiture and acquisition of Cable Systems in 2010 and 2011 as of they had occurred on January 1, 2010 unless otherwise noted. The year-over-year growth rates we will be referring to this morning are in a pro forma basis. Joining me on today’s call are Mike Lovett, President and CEO and Chris Winfrey, our CFO and Don Detampel EVP of technology and President commercial services. I will now turn the call over to Mike.

Mike Lovett

Thanks Robin. Good morning and thank you for joining us today. We are pleased with third quarter results in which we grew our revenues 3% and adjusted EBITDA 3.8% and generated healthy free cash flow. We accelerated growth in our commercial business through our robust growth in our internet business and improved our margin by 30 basis points compared to last year.

We also continued to take an opportunistic disciplined approach to investing in ROI positive projects both organic and M&A as well as share and debt repurchases. We made meaningful advances in all four of our strategic priorities that we outlined at the beginning of the year.

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