This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Cablevision Systems' CEO Discusses Q2 2012 Results - Earnings Call Transcript

Second quarter 2012 total revenue increased by 0.5% as compared with the second quarter of 2011. AOCF declined 7.2% versus the prior year period, primarily reflecting lower margins in our core cable business. As expected, capital expenditures increased significantly in the second quarter. This increased level of investment negatively impacted free cash flow, which was $59 million for the quarter.

We continued to be committed to our return of capital initiatives. We repurchased 5.6 million shares of stock in the second quarter and last week the board declared a $0.15 per share quarterly dividend which is payable next month.

Turning to operations, product service and operational improvements and enhancements are all continuing as we strive to provide our customers with more value from their Optimum relationship. Our data network augmentation project, which was completed during the first quarter, significantly improved the Optimum Online experience. Our investment also enhanced our ability to monitor our network’s performance. As a result, we were not surprised when our product performance improvements were validated by the FCC’s latest Measurement Broadband America report, which was released on July 19.

According to the report, customers of our core Optimum Online and Optimum Online Boost Plus services received more than 100% of advertised speeds on average across a 24 hour day. In addition, the report highlighted that Optimum Online customers received 128% of advertised speeds during peak weekday hours and Optimum Online Boost Plus customers received 113% of advertised speeds during peak hours.

Another area in which we provide our customers with great value is through our continued investment in WiFi. Our WiFi network has more access points than any other WiFi network in the country and this product is becoming increasingly attractive to our customers who are seeking to contact to content outside of their homes.

During the second quarter, we expanded our network by adding nearly 5,000 additional hotspots in our Optimum East territories. In addition to adding coverage, we continued to invest to enhance the speed, capacity and connectivity of the network.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,856.78 -278.94 -1.54%
S&P 500 2,071.26 -29.78 -1.42%
NASDAQ 4,927.37 -55.4390 -1.11%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs