Charter, which said last week it had placed COO David Barford on ...
Charter, which said last week it had placed COO David Barford on paid leave in federal probe into accounting practices, estimated 3rd-quarter revenue rose 12.6% and operating cash flow 8.7% from 2001 pro forma results. Charter said it had…
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provided preliminary information on 3rd- quarter revenue, cash flow and revenue-generating unit (RGU) growth in confidential conference call with its credit facility lenders, but because some media representatives obtained information, it was making information public. Company said it added 215,000 RGUs, with 150,000 digital customers and 150,000 of high-speed, partly offset by net loss of 85,000 basic customers. Revenue and operating cash flow growth resulted primarily from increased digital and high-speed data customers. Decline in analog customers was laid to competition from satellite providers, customer reaction to increased prices in rebuilt markets, and continued tight credit polices, company said. Charter said 4th-quarter 2002 guidance and finalized 3rd-quarter results would be announced in 3rd quarter earnings report Nov. 5.