Cablevision triumphs despite increased competition

29 Feb 2008

New York -based cable television operator Cablevision’s sales grew in the last quarter of 2007 to USD1.84 billion up 10.8% on the same period in 2006. This resulted in earnings of USD6.6 million in the quarter compared with losses of USD23.9 million in the fourth quarter of 2006. Operating income rose 62.9% to USD330.3 million from USD202.8 million for the fourth quarter the previous year. Quarterly revenues for Telecommunications Services, including the ‘Optimum’ branded video, high speed data and voice residential and commercial packages and its ‘Optimum Lightpath’ commercial and data services, rose 8.7% to USD1.218 billion, and operating income increased 37% to USD267.6 million.

Cablevision posted an annual net income of USD218.5 million compared with a net loss of USD126.5 million in 2006. Full year revenue for 2007 was USD6.48 billion equating to an 11.3% increase from the previous year. The amount of revenue generated by the company’s telecommunications services rose 8.7% to USD1.21 billion on the back of an increase in customers for its high speed internet and digital phone services. Cablevision added 62,000 high speed internet customers and 102,000 digital phone customers in the fourth quarter alone. Cablevision President and CEO James L Dolan commented ‘Our cable operations helped drive this year’s performance with strong subscriber increases in digital, voice and data’.

United States, Cablevision Systems (Optimum)