Cablevision Posts $610.2 Million Profit for 2007

[chek_ya_self]

CableRant.com has a thread stating Cablevision just posted a $610.2 Million Profit and have been gaining customers even with fierce competition from Verizon FIOS.

Other Highlights:
1,000 new Basic TV Customers in the 4th quarter
102,000 new phone customers in the 4th quarter
62,000 Internet-access subscribers in 4th quarter

Click here for CableRant.com thread

 

[chek_ya_self]

I figured they would be losing customers to Verizon FIOS. I guess FIOS isn't as competitive as people think.

 

[Sean Mota]

Cablevision Systems Corp. Q4 2007 Earnings Call Transcript - Seeking Alpha

Turning now to Rainbow’s other programming businesses which primarily include the VOOM HD Networks, News 12, IFC Entertainment, Fuse and our VOD services, fourth quarter net revenues for this group increased 20% to $70 million and the AOCF deficit improved from $38 million to $30 million. The revenue increase was primarily attributable to VOOM HD. The AOCF deficit improved because of the higher VOOM HD revenue partially offset by higher operating costs at fuse, ICF Entertainment and our VOD services. For the year 2007, revenue increased 20% to $247 million and the AOCF deficit improved $18 million to a $125 million for this group.
I’d now like to turn it over to Hank Ratner who will discuss the results from Madison Square Garden