The Wiz Reports Revenue Off 3.7% During 4th Qtr.
By Jeff Malester -- TWICE, 2/25/2002
BETHPAGE, N.Y. — Due to a softer than expected holiday selling season, The Wiz recorded fourth-quarter net revenue of $217.6 million, down 3.7 percent pro forma from the $225.9 million registered in the same quarter the previous year.
The Wiz, which makes up the Retail Electronics segment of the Cablevision NY Group, posted a pro forma operating cash flow loss of $27.4 million in the fourth quarter ended Dec. 31, up from a loss of $6.7 million in the year-ago three months.
Cablevision refers to operating cash flow as AOCF, or operating profit before depreciation and amortization, excluding charges related to the restructuring that was announced in the fourth quarter of 2001 and the effects of long-term incentive and stock plans income or expense.
For the 12 months, net revenue at The Wiz climbed 2.2 percent, to $678.6 million pro forma, up from $663.7 million in the same three months in 2000.
AOCF for The Wiz over the 12 months rose 35.4 percent, to a loss of $76.5 million, up from a loss of $56.5 million in the year-ago fourth quarter. Capital expenditures
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