Cable Center Records First Surplus Since 2001
Contributions Help Center Finish $1.5 Million In The Black
By Tom Steinert-Threlkeld -- Multichannel News, 4/18/2008 11:40:00 AM
The Cable Center, which provides education to and information about the cable industry, reported a financial surplus to its board of directors, for 2007.
In its annual report, distributed Friday, the Denver-based center reported a net surplus of $1.5 million on revenues of $7.6 million. That is compared to a net deficit of $233,000 in 2006 on revenues of $6.0 million.
The biggest change: Contributions, which increased to $1.8 million, from $575,000.
"The financial foundation of The Cable Center remains strong and has improved over the last year,'' president and CEO Larry Satkowiak said, in remarks in the report. "We ended the year with a positive net surplus—the first surplus since (The Cable Center's) building opened in 2001."
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