Light Reading Mobile – Telecom News, Analysis, Events, and Research
News Wire Feed  

Cablevision Revenues Dip in Q4

February 28, 2013 |
BETHPAGE, N.Y. -- Cablevision Systems Corporation (NYSE: CVC) today reported financial results for the fourth quarter and full year ended December 31, 2012. Fourth quarter consolidated net revenues decreased 1.6% to $1.664 billion, consolidated adjusted operating cash flow (“AOCF”)1 decreased 44.2% to $349.6 million and consolidated operating income decreased 91.5% to $29.3 million, all compared to the prior year period.

For full year 2012, consolidated net revenues increased 0.1% to $6.705 billion, consolidated AOCF decreased 17.2% to $1.899 billion and consolidated operating income decreased 38.2% to $759.5 million, all compared to 2011.

Operating highlights for the fourth quarter and full year 2012 include:

  • Fourth quarter cable advertising revenue growth of 17.6%, compared to the prior year period.
  • Improved full year combined Video, High-Speed Data and Voice customer net additions compared to 2011 despite impact of Superstorm Sandy in the fourth quarter. Cablevision President and CEO James L. Dolan said, "2012 was a year of investment at Cablevision – investment in our network, in our products and services, and in our employees to ensure that we were providing our customers with the very best experience with their television, internet and phone services. The enormous challenges of Superstorm Sandy had a strong negative impact on our fourth quarter results. Ever resilient, our employees met those challenges, restored our system and now are focused on continuing to enhance our product portfolio to meet our customers’ evolving needs and expectations."

    Cablevision Systems Corp.



    • Currently we allow the following HTML tags in comments:

    Single tags

    These tags can be used alone and don't need an ending tag.

    <br> Defines a single line break

    <hr> Defines a horizontal line

    Matching tags

    These require an ending tag - e.g. <i>italic text</i>

    <a> Defines an anchor

    <b> Defines bold text

    <big> Defines big text

    <blockquote> Defines a long quotation

    <caption> Defines a table caption

    <cite> Defines a citation

    <code> Defines computer code text

    <em> Defines emphasized text

    <fieldset> Defines a border around elements in a form

    <h1> This is heading 1

    <h2> This is heading 2

    <h3> This is heading 3

    <h4> This is heading 4

    <h5> This is heading 5

    <h6> This is heading 6

    <i> Defines italic text

    <p> Defines a paragraph

    <pre> Defines preformatted text

    <q> Defines a short quotation

    <samp> Defines sample computer code text

    <small> Defines small text

    <span> Defines a section in a document

    <s> Defines strikethrough text

    <strike> Defines strikethrough text

    <strong> Defines strong text

    <sub> Defines subscripted text

    <sup> Defines superscripted text

    <u> Defines underlined text

    Network Computing encourages readers to engage in spirited, healthy debate, including taking us to task. However, Network Computing moderates all comments posted to our site, and reserves the right to modify or remove any content that it determines to be derogatory, offensive, inflammatory, vulgar, irrelevant/off-topic, racist or obvious marketing/SPAM. Network Computing further reserves the right to disable the profile of any commenter participating in said activities.

     
    Disqus Tips To upload an avatar photo, first complete your Disqus profile. | View the list of supported HTML tags you can use to style comments. | Please read our commenting policy.
     
    Related Content
    Most Popular
    Read
    White Papers SPONSORED CONTENT
    Featured
    Resource Library SPONSORED CONTENT
    Orthogonal Frequency Division Multiplexing (OFDM)
    A modulation scheme where one high-speed signal is split into multiple lower-speed signals