On Wednesday, Cablevision Systems Corp. announced its fourth quarter earnings and full year report of year ended 31st December. The company was able to show improvement in its results. However, it kept on losing telephony subscribers and Pay TV users.
Cablevision's net income from operations was $56.3 million which is equals to $0.20 per share more than $46.5 million net income of similar quarter last year. The earnings for the quarter covering from October to December 2014 were 20 cents per share beating Zack analyst's expectation by 1 cent.
Company's revenue grew to $1,631 million increased by 3% on annual basis and beats the estimation by Zacks analyst of $1,627 million.
Chief executive officer of Cablevision, James Dollan said," the company declared strong financial results, with substantial increase in revenue, adjusted operating cash flow margin ( AOCF) and free cash flow (NYSE:FCF) . We also took some major steps to improve our current position that includes the continuous expansion of Wi-Fi-network. Planning our future in 2015 we will look to bring more improvement and expansion in our connectivity both indoor and outdoor. The launch of Freewheel, text and talk service is an example of our efforts to meet the needs of our customers."
Cablevision's income from operating activities grew by approximately 22% to $205.8 million from $168.6 million in the fourth quarter of fiscal year 2013. Operating margin grew by 1.9% to 12.6% up from 10.6% in similar quarter the previous year. Company had fourth quarter monthly average revenue per user of $155.20 more than previous average revenue per user of $147.34 a year ago.
In December, the company pocketed cash from operations of around $1,378.3 million, which is more than $1,135 of fourth quarter 2013. The company cash flow grew to $486.9 million from $184.6 million of last year quarter.
On Dec 31st 2014, Cablevisions Corporation had a total debt outstanding of $9,693 million and cash in hand worth of $850.4 million.
Within the cable revenue section, company's revenue from Video has declined by 0.5% on annual basis and stood at $788 million. Revenue against high speed data rose by 5.9% to $359 million. Company earned advertising revenue of $48 million improved by 9%.
On 31st December 2014, the company had 2.760 million high speed data user, 2.681 million subscribers of videos, and 2.229 million voice subscribers. In the quarter covering from October to December 2014 Company had lost almost 34,000, 4,000 and 11,000 video, high speed data and voice subscribers respectively.
Cablevision Systems Corporation stock was trading at $18.56 at market close on Wednesday.