Financial Roundup

09 May 2005

USA (calendar Q1)

  • Cablevision Systems
       The New York-headquartered cable operator reports a $118.9 million (€91.91m; £62.42m) loss for the first quarter, marginally less than the $120m loss in the year-earlier period.
       Revenues rose 6% to $1.21 billion, helped by sales of premium services such digital cable and high-speed internet access.
       Despite the loss, Cablevision's operating income increased to $74.9 million from $5 million in the same period last year, on higher revenue from cable and lower expenses at its Madison Square Garden venue.
       Revenue from cable rose 15% to $813.5m, making up the bulk of the company's business. High-speed data customers increased 7% from December, digital video customers grew 9% and subscribers to its new digital phone service rose 34%.

    USA (calendar Q1)
  • EchoStar Communications
       The satellite TV firm swung into the black in the first quarter, despite being buffeted by larger rivals.
       The company says profit topped $317.5 million (€245.43m; £166.68m), compared with a year-earlier net loss of $42.9m.
       Revenue jumped 28% to $2.02 billion, helped by higher-paying subscribers.
       Despite a net increase of 325,000 customers in the latest quarter and a total subscriber base that exceeds 11.3 million, both EchoStar and its chairman, Charles Ergen, face daunting challenges.
       He has hinted at some diversification moves such as leasing satellite capacity, but says he is not ready yet to lay out a strategic roadmap of initiatives.
       He describes EchoStar as "a company that will tread water until we're ready to place a bet, then we will place a bet in a big way."

    Data sourced from multiple origins; additional content by WARC staff