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The Wiz Q1 Revenue Drops 7.5%

5/02/2002 08:58:00 AM Eastern

Bethpage, N.Y. - The Wiz reported a net revenue decrease of 7.5 percent in its first quarter, hitting $139.5 million, compared with a pro forma $150.9 million in the same three months last year.

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 N.Y. 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.

The AOCF gain for the total Cablevision N.Y. Group in the first three months was $184.1 million, up 9.1 percent from the pro forma AOCF gain of $168.8 million recorded in the first three months of 2001.

Net loss for the N.Y. Group during the first three months totaled $264.3 million, compared with a profit of $1.1 billion in the year-ago first quarter.

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

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