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CableVision Says Wiz Q1 Net Dropped 7.5%

5/13/2002 02:00:00 AM Eastern

Retail consumer electronics chain The Wiz reported a net revenue decrease of 7.5 percent in the first quarter, hitting $139.5 million, compared with a pro forma $150.9 million in the same three months last year.

The Wiz is operated as part of Cablevision Systems' Cablevision NY Group.

Consolidated adjusted operating cash flow, which is operating profit before depreciation and amortization and excludes the effects of long-term incentive and stock plans income or expense — called AOCF by Cablevision — came in at an AOCF deficit of $20.6 million for The Wiz in the first quarter ended March 31. This compares to a pro forma AOCF deficit of $17.4 million in the first quarter of 2001.

Total Cablevision NY Group revenue for the first quarter was $946.2 million, a 5.2 percent gain over the pro forma $899.4 million reported in the year-ago period.