Charter Communications Inc. (NASDAQ: CHTR) managed to post narrower losses for Q1 in 2008. The highly in debt cable company posted a net loss of $358 million, or -$0.97 EPS. This compares to last year’s loss of $381 million, or -$1.04 EPS. Revenues came in up over 10% at $1.564 billion pro forma basis and more than a 9% rise on an actual basis. First Call had estimates pegged at -$0.75 EPS on $1.55 Billion in revenues.
Revenue gains were attributed mostly to increased telephone and high-speed internet revenues. Here were some of the other internal metrics:
- Revenue generating units rose 7% from Q1 2007 with some 302,000 net adds.
- Video revenue generating units increased 90,900 and video average revenue per user rose over 6%.
- Digital video customers rose 102,800, while basic video customers fell by 11,900.
- Internet customers rose by 85,700.
- The decrease in the company’s loss was attributed to 10.5% higher adjusted pro forma EBITDA of $545 million.
- Net cash flow from operations was $204 million, down from a pro forma number of $263 million in Q1 2007.
Interestingly enough, the net interest expense came in at $465 million for the quarter, and it had a derivative value change that grew to an expense of $37 million (from $1 million in Q1-2007). If you deducted that derivative expense you could derive an implied raw pro forma earnings per share number of -$0.87 EPS. As we just noted this weekend in our "10 Stocks Under $10" newsletter, Charter Communications’ last seen short interest was more than 81.88 million shares (about 24 days of volume).
Right after the open, shares were up more than 1% at $1.205; after about 12 minutes of being open, Charter shares were down 5% at $1.14.
Jon Ogg
May 12, 2008
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.