Positive Operating Results at Charter Communications Reported at Annual Banc of America Investment Conference
ST. LOUIS--(BUSINESS WIRE)--Sept. 22, 2000--Charter Communications, Inc. (Nasdaq: CHTR) today told institutional investors at the Banc of America Securities 30th Annual Investment Conference in San Francisco that they will continue to be among industry leaders in financial and operational areas on which the cable television industry is measured.
"We expect the momentum of the past two quarters to continue for the remainder of the year 2000," said Kent Kalkwarf, Charter's Executive Vice President and Chief Financial Officer. Mr. Kalkwarf told conference attendees that Charter leads the industry in cash flow per customer and is among the leaders in operating margins.
"The cable sector has a great window of opportunity to take advantage of our broadband strength. For the next few years, no other competitor will be able to match the speed, capacity and more importantly, the interactive capability that our customers crave. And Charter is well positioned to reap great returns on our investment in the broadband pipe," continued Mr. Kalkwarf.
Mr. Kalkwarf also discussed Charter's aggressive approach to today's competitive marketplace. "We've quickly integrated past acquisitions to benefit from combined synergies; we're rebuilding and upgrading our cable system architecture to be the most robust in the industry; we're aggressively launching advanced services with innovative sales and marketing strategies; and we're maintaining our emphasis on customer care. And the return on our investment in these areas has been compelling."
In its second quarter 2000 earnings release, Charter reported operating cash flow growth of 16.4% compared to the pro forma results for the second quarter of 1999. For those cable systems owned or managed by Charter during the second quarter of both 2000 and 1999, customer growth was 2.3% over the year ago period.
Charter's presentation is available on its website at www.chartercom.com.
With 6.3 million customers, Charter Communications, a Wired World(TM) company, is among the nation's largest broadband communications companies. Charter offers an array of advanced broadband services, including cable television under the Charter Cable TV brand; advanced digital video programming services under the Charter Digital Cable(TM) brand; and high-speed Internet access via Charter Pipeline(TM). Charter's Class A common stock is traded on the Nasdaq National Market under the ticker symbol "CHTR." More information about Charter can be found on the Internet at www.chartercom.com.
Statements in this press release regarding Charter Communications' business that are not historical facts may be "forward-looking statements." Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Important factors that could cause actual results to differ materially from any such forward-looking statements are identified in the reports and documents Charter files from time to time with the U.S. Securities and Exchange Commission.
|CONTACT:||Charter Communications, St. Louis|
|Andy Morgan, 314/543-2217|
|Mary Jo Moehle, 314/543-2397|