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The Madison Square Garden's CEO Discusses F3Q12 Results - Earnings Call Transcript

Following a discussion of the company's financial results, we'll open the call for questions. If you do not have a copy of today's earnings release, it is available on the Investor's section of our website at themadisonsquaregardencompany.com.

Please take a note of the following: Today's discussion may contain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results or developments may differ materially from those in the forward-looking statements as a result of various factors, including financial community perceptions of the company and its business, operations, financial condition and the industry in which it operates and the factors described in the company's filings Securities and Exchange Commission, including the sections entitled Risk Factors and management's discussion and analysis of financial condition and results of operations contained therein. The company disclaims any obligation to update any forward-looking statements that may be discussed during this call.

Let me point out that on page four of today's earnings release, we provide consolidated operations data and a reconciliation of adjusted operating cash flow or AOCF to operating income. I would now like to introduce, Hank Ratner, President and CEO of The Madison Square Garden Company.

Hank J. Ratner

Thank you, Ari. Our company’s positive operating momentum continues in it‘s fiscal third quarter highlighted by an increasing total adjusted operating cash flow of 46%. Reflecting on our year-to-date performance despite a shortened 66 game regular season for the New York Knicks, a prolonged dispute with Time Warner Cable, and an off season shut down of the Madison Square Garden arena as part of the transformation project, we have generated over $200 million in total AOCF over the first nine months of our fiscal year of 23% year-over-year increase. Our ability to deliver this level of growth is a testament to the breadth and strength of our assets and brands and the value we provide to customers and partners.

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