Insight Lowers Guidance9/28/2001 12:04 PM Eastern
Insight Communications Co. Inc. lowered its guidance for year-end revenue and
cash flow, citing the weakened advertising market.
Insight said revenue for 2001 will be $710 million, about 2 percent less
than previous guidance. Operating cash flow will be $318 million, down about 3
percent from past estimates.
'We have not seen the recovery we had been expecting and, frankly, the tragic
attacks of Sept. 11 have further reduced any hope of a recovery this year,'
chief financial officer Kim Kelly said in a prepared statement.
Kelly added that other lines of business are performing well and revenue and
cash flow should grow in the 14 percent to 16 percent range in 2002, even
without an advertising rebound.