Cablevision Systems Corporation (NYSE:CVC) today reported financial results for the second quarter ended June 30, 2012.
Second quarter consolidated net revenues grew 0.5% to $1.697 billion, consolidated adjusted operating cash flow (“AOCF”) 1 decreased 7.2% to $532.4 million and consolidated operating income declined 16.7% to $260.3 million, all compared with the prior year period.
Operating highlights for the second quarter 2012 include:
- Customer Relationship additions of approximately 7,000.
- High-Speed Data and Voice customer additions of approximately 25,000 and 23,000, respectively.
- Average Monthly Revenue per Basic Video Customer (“RPS”) of $155.12, a sequential increase of $2.59 or 1.7%.
- Cable advertising revenue growth of 8.3%, compared to the prior year period.
Cablevision President and CEO James L. Dolan commented, "We are continuing to invest in our operations to ensure that we are offering the best products and service to our customers. The value proposition that Cablevision offers is growing as we further expand our WiFi network, enhance the Optimum Online experience and provide a growing list of both on-the-go and HDTV video offerings. These actions are generating a positive response as evidenced by the 24,000 net new customers we have added during the first half of 2012 and our very strong results in the recent FCC broadband measurement tests. Our focus on transforming the way we operate has never been stronger."
|1.||See definition of AOCF and Consolidated Free Cash Flow from Continuing Operations included in the discussion of non-GAAP financial measures on page 3 of this earnings release.|
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV