Comcast Corporation to participate in UBS investor conference

December 4, 2007

2 Min Read

PHILADELPHIA -- Comcast Corporation (Nasdaq: CMCSA, CMCSK) announces that Michael Angelakis, Co-Chief Financial Officer, will participate in the 35th Annual UBS Global Media & Communications Conference on December 5, 2007, at which time he will discuss, among other items, the Company's current outlook for 2007.

Reflecting an increasingly challenging economic and competitive environment and consistent with trends across the sector, Revenue Generating Units(1) (RGUs) are now expected to increase by approximately 6 million to 57 million, versus previous guidance of approximately 6.5 million additions. This represents a significant increase compared to the 5 million RGUs added in 2006. This RGU growth is expected to contribute to cable revenue growth(2) for 2007 of approximately 11%, compared to previous guidance of at least 12%, cable operating cash flow growth(2) of approximately 13% as compared to previous guidance of at least 14%, and consolidated operating cash flow growth(2) of approximately 13% as compared to previous guidance of at least 13%.

Cable capital expenditures are expected to be approximately $6.0 billion for the year, a 5% increase from originally issued guidance, reflecting increased advanced digital set-top box purchases, the Company's digital acceleration program, expanded network enhancements and acquisition-related investments.

Reflecting the impact of all the items described above, Comcast's consolidated Free Cash Flow is expected to be approximately 80% of 2006, compared to previous estimates of 2007 consolidated Free Cash Flow of at least 90% of 2006.

Except for the items mentioned above, Comcast is reaffirming all previously issued guidance for 2007.

With the current outlook of 6 million RGU additions, 11% cable revenue growth, and 13% cable operating cash flow growth, 2007 will be a year of record RGU additions and solid financial performance, with the Company enjoying its 8th consecutive year of double digit cable operating cash flow growth.

A live webcast of the event will be available on the Company's Investor Relations website at http://www.cmcsa.com or http://www.cmcsk.com on Wednesday, December 5, 2007, at 8:00 a.m. Eastern Time. An on-demand replay will be available shortly after the conclusion of the presentation. To automatically receive Comcast financial news by e-mail, please visit http://www.cmcsa.com or http://www.cmcsk.com and subscribe to E-mail Alerts.

Comcast Corp. (Nasdaq: CMCSA, CMCSK)

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like