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Charter Communication's CEO Discusses Q4 2011 Results - Earnings Call Transcript

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 if 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 Tom Rutledge, President and CEO, Chris Winfrey, our CFO and Don Detampel EVP, of Technology and President Commercial Services.

The presentation that accompanies their comments can be found on our website, under financial information. The press release and trending schedules are also posted on our website under Investor and News Center.

With that, I’ll turn the call over to Tom.

Thomas M. Rutledge

Thank you, Robin. I’m glad to be here. I’ve watched Charter for a long time and have always thought it’s a great company with terrific assets and real potential. The company has addressed some unique challenges in the past and I believe its now well positioned. I’ve been diving into the business and while still early on, and impressed with the team, the operations and the strategy for future growth.

In 2011, Charter improved its customer relationship growth trend and delivered solid financial results. The company grew by 2.7% -- grew revenue by 2.7%, increased adjusted EBITDA by 3.3% and generated free cash flow of $488 million. With a stronger balance sheet, Charter returned more than $725 million of capital to shareholders through share repurchases.

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