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JONES INTERCABLE REPORTS FIRST QUARTER RESULTS

 ENGLEWOOD, Colo., Oct. 18 /PRNewswire/ -- Jones Intercable Inc. (NASDAQ-NMS: JOIN and JOINA) today reported an increase in total revenues of $5.1 million, or 19 percent, from $27.3 million reported in the first quarter of fiscal 1993 to $32.4 million reported in the first quarter of fiscal 1994. This increase is reflective of the company's purchase in November 1992 of the cable television system serving the areas in and around Alexandria, Va. (the "Alexandria System") from one of its managed partnerships and the company's sale in May 1993 of the cable television system serving a portion of San Diego and Riverside County, Calif. (the "San Diego System"). Disregarding the effect of these transactions, total revenues would have increased approximately $2.0 million, or 8 percent.
 Revenues from subscriber service fees for the first quarter of fiscal 1994 increased 22 percent from $23.0 million reported in fiscal 1993 to $28.0 million in fiscal 1994. This is the result of increases in the number of basic subscribers and basic service rate adjustments in company-owned systems which accounted for approximately $1.4 million, or 28 percent of the increase. The net effect of the purchase of the Alexandria System and the San Diego System accounted for approximately $3.3 million, or 66 percent, of the increase in subscriber service fee revenues.
 For the first quarter of fiscal 1994, fees for the management of limited partnerships for which the company is general partner totaled $4.4 million compared to $4.3 million for the like period one year ago, an increase of 2 percent. Disregarding the effect of the purchase of the Alexandria System from one of the company's managed partnerships in November 1992, management fees would have increased $285,000, or 7 percent. The continued growth in management fee revenue has resulted principally from increases in operating revenues of the company's managed partnerships. Partnership revenue increased as a result of increases in basic subscribers, the offering of additional services and service rate adjustments.
 Operating, general and administrative expenses increased 24 percent from $14.7 million in the first quarter of fiscal 1993 to $18.3 million for the like period in fiscal 1994. The net effect of the purchase of the Alexandria System and the sale of the San Diego System was an increase in these expenses of approximately $1.4 million for the first quarter of fiscal 1994. This increase was due, to a lesser extent, to increases in personnel costs, satellite fees and premium service fees. Disregarding the effect of these transactions, operating, general and administrative expenses would have increased 9 percent.
 Depreciation and amortization expense increased from $9.9 million for the first quarter of fiscal 1993 to $10.5 million for the like period of fiscal 1994. This increase was due to the acquisition in November 1992 of the Alexandria System and the resulting increase in the company's asset base.
 Operating income before depreciation and amortization for the first quarter was $14.1 million, a 12 percent increase from $12.6 million in the like period a year ago. Disregarding the effect of the purchase of the Alexandria System and the sale of the San Diego System, operating income before depreciation and amortization would have increased 6 percent, from $12.3 million in the first quarter of fiscal 1993 to $13.0 million in the like period of fiscal 1993.
 Based on the company's assessment of the Federal Communication Commission's rulemakings concerning rate regulation under the Cable Television Consumer Protection and Competition Act of 1992, the company reduced rates charged for certain regulated services. On an annualized basis, such rate reductions will result in an estimated reduction in revenue of approximately $5.5 million, or 4.5 percent, and a decrease in operating income before depreciation and amortization of approximately $5.2 million, or 9 percent.
 Jones Intercable is one of the largest cable television operators in the United States. It owns or manages cable operations in over 20 states and three countries.
 For more detailed finacial information, contact the Investor Relations department of Jones Intercable at 303-792-3111 or write 9697 E. Mineral Avenue, Englewood, Colo. 80112.
 JONES INTERCABLE INC.
 UNAUDITED FINANCIAL HIGHLIGHTS
 For Three Months Ended Percent
 Aug. 31, Increase
 1993 1992 (Decrease)
 (stated in thousands except per share data)
 Revenues from Cable
 Television Operations:
 Subscriber Service Fees $ 28,013 $ 23,005 22
 Management Fees 4,360 4,259 2
 Total Revenues $ 32,373 $ 27,264 19
 Operating, General and
 Administrative Expenses $ 18,268 $ 14,707 24
 Operating Income Before
 Depreciation and
 Amortization $ 14,105 $ 12,557 12
 Depreciation and
 Amortization $ 10,514 $ 9,877 6
 Net Loss $ (5,852) $ (8,848) (34)
 Net Loss Per Class A
 Common and Common Share:
 Loss before
 extraordinary item $ (.34) $ (.46) (26)
 Extraordinary item --- (.53) ---
 Accounting change --- .30 ---
 $ (.34) $ (.69) (51)
 Weighted Average Number
 of Shares Outstanding 17,150 12,883 33
 Unaudited Balance Sheet Data
 Aug. 31, May 31,
 1993 1993
 Total Assets $ 400,455 $ 399,572 ---
 Total Debt $ 336,172 $ 327,214 3
 Total Shareholders'
 Investment $ 25,817 $ 31,649 (18)
 -0- 10/18/93
 /CONTACT: Kevin P. Coyle of Jones Intercable, 303-792-3111/
 (JOIN)


CO: Jones Intercable Inc. ST: Colorado IN: TLS SU: ERN

MC -- DV003 -- 3196 10/18/93 09:01 EDT
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Publication:PR Newswire
Date:Oct 18, 1993
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