TCAs Net Rise Beats Street Estimates3/22/1998 7:00 PM Eastern
Tyler, Texas -- TCA Cable TV Inc., one of the few cable
operators to reveal its net income, reported that its first-quarter profit of $10.7
million, equal to 43 cents per share of stock, was up 10 percent compared with $9.7
million (39 cents per share) in the same period a year ago.
That was better than analyst estimates of 41 cents per
share, according to the First Call survey, and TCA's stock price notched up about 2
percent on the news last Monday, closing at $54.50. TCA's results were released late
the previous Friday.
During the quarter that ended Jan. 31 (TCA's fiscal
year ends Oct. 31), TCA's revenue rose 10 percent, to $80.9 million from $73.5
million a year ago, led by internal growth in TCA's ad-insertion business (up 19
percent) and its cable systems. Basic and expanded-basic revenue rose 7 percent.
Cash flow rose 7 percent, to $34.4 million from $32 million
in the same period a year ago.