Cable Satisfaction International Inc. "Csii" Announces Second Quarter Results For the Period Ended June 30, 1997.LONGUEUIL, Quebec--(BUSINESS WIRE)--Aug. 28, 1997--(CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. CSIX ) Csii is a Canadian cable operator that builds and operates hybrid coaxial co·ax·i·al adj. Having or mounted on a common axis. coaxial Adjective 1. Electronics (of a cable) transmitting by means of two concentric conductors separated by an insulator fibre networks in the international cable TV and telecommunications markets through its subsidiary companies located in various foreign countries. In Guadeloupe - World Satellite Guadeloupe S. A. (WSG WSG Web Standards Group WSG Warsong Gulch (World of Warcraft; gaming) WSG Web Services Gateway (IBM) WSG Washington, Pennsylvania (Airport Code) ) has recorded a rise of 16 percent in basic cable subscriptions over the previous quarter. Total number of subscribers now stands at 13,758. In addition, WSG has introduced CineStar1, a new Pay-Tv movie channel. Initial reaction was overwhelming and 1,500 of our subscribers have already signed up. Total operating revenues operating revenue Revenue from any regular source. Revenue from sales is adjusted for discounts and returns when calculating operating revenue. Compare other revenue. for the three months ended June 30, 1997 amounted to $1,674,000 representing a 20 percent increase over the first quarter results. EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become for the current quarter increased by 34 percent to $478,000. These tremendously positive results permitted WSG to record a second quarter net income of $227,000 compared to a $70,000 loss in its first quarter. With its 56 dedicated and highly trained employees, WSG continues to extend its broadband infrastructure throughout the island. In Portugal - Basic subscribers at Cabovisao - Televisao por Cabo S. A., including its 83.2 percent owned subsidiary Pluricanal Aveiro - Televisao por Cabo S. A., more than doubled during the quarter, increasing to 5,278. The Company introduced an optional expanded basic programming package consisting of four Portuguese general-purpose channels. The response was immediate and more than 50 percent of our subscribers have opted for this package. For the quarter ended June 30, 1997, Cabovisao and Pluricanal reported revenues of $211,000, an EBITDA loss of $184,000 and a net loss of $465,000. This compared very favourably to the respective first quarter figures of $56,000, $293,000 and $702,000. Cabovisao now employs 75 people and continues to rollout its hybrid fiber-coaxial two-way 750 MHz (MegaHertZ) One million cycles per second. It is used to measure the transmission speed of electronic devices, including channels, buses and the computer's internal clock. A one-megahertz clock (1 MHz) means some number of bits (16, 32, 64, etc. infrastructure from the headends in Palmela and Aveiro. In Canada - Further to the Csii's application for an MMDS (Multichannel Multipoint Distribution Service or Microwave Multipoint Distribution Service) A digital wireless transmission system that works in the 2.2-2.4 GHz range. license to operate a wireless cable television network in Montreal, Quebec City and the Ottawa/Hull area, the CRTC CRTC Canadian Radio-Television & Telecommunications Commission CRTC Combat Readiness Training Center CRTC Cathode Ray Tube Controller CRTC China Railway Telecommunications Center CRTC Cold Region Test Center CRTC Continuously Regenerated Trap Column has announced it will hold public hearings in this matter beginning on October 15, 1997 in Hull, Quebec Hull is part of the city of Gatineau, Quebec, Canada. It is located on the west bank of the Gatineau River and the north shore of the Ottawa River, directly opposite Ottawa. . Csii will pursue this venture through its 51 percent owned subsidiary Digitvcom Inc. We are also pleased to announce the appointments of John A. Paoletti CA as Vice-President Finance and Chief Financial Officer and Nicolas Fontaine CA as Controller. Csii - For the quarter ended June 30, 1997, consolidated operating revenues reached $1,047,922, representing a 30 percent increase over the previous quarter. Csii also trimmed its EBITDA loss to $206,017 for the period compared to the $622,169 loss it reported in the first quarter. The favourable results are due mainly to the continued strength of our Guadeloupe project and the emergence of our Portugal operations from a start-up phase. Consolidated net loss for the quarter stood at $645,425, down substantially from the $1,076,955 recorded in its first quarter. Subordinate voting shares Voting Shares Shares that give the stockholder the right to vote on matters of corporate policy making as well as who will compose the members of the board of directors. Notes: Different classes of shares, such as preferred stock, sometimes don't allow for voting rights. of Csii are listed under ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors CSIX on the Canadian Dealings Network in Toronto (total outstanding : 1,000,000 multiple voting Noun 1. multiple voting - the act of voting in more than one place by the same person at the same election (illegal in U.S.) balloting, vote, voting, ballot - a choice that is made by counting the number of people in favor of each alternative; "there were only 17 shares and 21,608,009 subordinate voting shares). Csii is solely responsible for the contents of this press release. No regulatory body having jurisdiction over the securities of Csii has approved or disapproved its contents. -0-
INFORMATION CONCERNING SOME SUBSIDIARIES OF Csii
As at June 30, 1997 WSG Cabovisao (including
Pluricanal)
___________________ _____________ ___________________
Percentage ownership 49.97 p.c. 75.56 p.c.
Average monthly revenue
per subscriber (1) $37.94 $18.93
Number of homes passed 43,380 19,647
Number of basic subscribers 13,758 5,278
Penetration rate 31.7 p.c. 26.9 p.c.
Total project potential 100,000 1,300,000
___________________ _____________ ____________________
(1) Calculated using $1=4.14 $1=123.4
average foreign currency french escudos
rates for the period. francs
CONTACT: Cable Satisfaction International Inc., Longueuil Real Laflamme, 514/ 468-4485 514/ 468-5957 (FAX) csii@rplus.net |
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