Cablevision Systems Corp. to Lay Off 86 Telemarketing Employees, Effective Nov. 7, 2014
Aug 9 14
Cablevision Systems Corp. will lay off 86 telemarketing employees, effective Nov. 7, 2014. In a state Worker Adjustment and Retraining Notification Act filing that the workers are based in Jericho, where they take calls from customers interested in cable TV products. The jobs were being eliminated in a consolidation of three similar sales locations into two, with those in the Bronx and New Jersey to remain open.
Cross MediaWorks Appoints Stephanie Mitchko-Beale as its Chief Technology Officer
Aug 7 14
Stephanie Mitchko-Beale has joined Cross MediaWorks as it's chief technology officer. In this new role, Mitchko-Beale will be responsible for the advancement of data-enhanced advertising solutions, including addressable and advertising for Cross MediaWorks. Mitchko-Beale was most recently the senior vice president of Video Infrastructure Software at Cablevision Systems Corp., where she was responsible for developing technology and infrastructure to support Video-On-Demand, Subscription Video-On-Demand and advanced interactive applications for Digital Television and Broadband. She also developed e-commerce sites supporting online distribution of modems and, recently, cloud-based Digital Video Recorder (DVR) systems.
Cablevision Systems Corporation Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Full Year 2014; Releases New Version of Optimum TV App
Aug 5 14
Cablevision Systems Corporation announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenues, net of $1,628,137,000 against $1,569,619,000 a year ago. Operating income was $255,893,000 against $197,763,000 a year ago. Income from continuing operations before income taxes was $152,876,000 against $48,729,000 a year ago. Income from continuing operations was $91,028,000 against $28,222,000 a year ago. Net income attributable to company’s stockholders was $94,210,000 or $0.35 per diluted share against $135,359,000 or $0.51 per diluted share a year ago. Diluted income per share from continuing operations was $0.34 against $0.11 a year ago. Adjusted operating cash flow was $487,328,000 against $439,035,000 a year ago. Second quarter capital expenditures were $239 million and free cash flow was $185 million. The company's second quarter consolidated net debt was $8 billion.
For the six months, the company reported revenues, net of $3,203,723,000 against $3,080,847,000 a year ago. Operating income was $462,976,000 against $305,150,000 a year ago. Income from continuing operations before income taxes was $216,071,000 against $30,953,000 a year ago. Income from continuing operations was $181,162,000 against $21,089,000 a year ago. Net income attributable to company’s stockholders was $184,238,000 or $0.68 per diluted share against $119,319,000 or $0.45 per diluted share a year ago. Diluted income per share from continuing operations was $0.67 against $0.08 a year ago. Adjusted operating cash flow was $921,617,000 against $787,002,000 a year ago. Net cash provided by operating activities was $707,478,000 against $501,566,000 a year ago. Capital expenditures were $425,193,000 against $495,850,000 a year ago. Consolidated free cash flow from continuing operations was $283,031,000 against $5,716,000 a year ago.
The company continues to expect full year 2014 AOCF growth in the mid to high single digits as compared with full year 2013. While the first and second quarter results reflect strong year-over-year growth, certain expense increases that are anticipated for the second half of the year will temper growth in the third and fourth quarter.
The company released a new version of Optimum TV app, which integrates this TV to GO content directly into the application. The Optimum app is now the single destination for customers to access their Optimum content, both inside and outside the house. The company also enhanced Multi-Room DVR product by increasing the number of simultaneous recordings from 10 to 15, the most of any DVR in market.