Monday, August 7, 2006

Cablevision Reports Revenue Growth, Stock Option Review

Cablevision reported consolidated net revenue growth of 15.6% to more than $1.4 billion as compared to the second quarter of 2005. The company did not release full Q2 results because of an ongoing stock options review and an expected restatement of financial results.



Some highlights from the period:

  • Telecommunications services net revenues, including its "Optimum" branded consumer services and "Optimum Lightpath" branded business services, rose 17.2% to $1,049.1 million, compared to the prior year period.


  • Basic video customers were up 35,328 or 1.2% from March 2006 and up 95,486 or 3.2% from June 2005, marking the ninth consecutive quarter of basic video subscriber gains


  • iO: Interactive Optimum digital video customers were up 143,499 or 6.7% from March 2006 and up 529,265 or 30.4% from June 2005


  • Optimum Online high-speed data customers were up 84,819 or 4.7% from March 2006 and up 371,578 or 24.4% from June 2005


  • Optimum Voice customers were up 122,234 or 14.1% from March 2006 and up 509,185 or 106.4% from June 2005


  • Revenue Generating Units were up 385,284 or 4.9% from March 2006 and up 1,503,577 or 22.3% from June 2005


  • Lightpath net revenues increased 11.3% to $52.9 million, compared to the prior year period. The increase in net revenue is primarily attributable to growth in Optimum Voice call completion activity and Ethernet data services over Lightpath's fiber infrastructure, offset in part by a decline in traditional phone service usage. Lightpath revenue excluding Optimum Voice call activity would have increased 1.0%.
http://www.cablevision.com

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