Insight Communications Co. Inc. preannounced its second-quarter results
Monday, saying it expects revenue for the quarter to rise about 10 percent in
the period to $200 million and cash flow to increase 15 percent to $89
Insight also reiterated its year-end forecast for 2002 -- cash-flow growth of
between 14 percent and 16 percent.
The company said it would release its full second-quarter results after the
close of business July 23 and it would hold a conference call with analysts to
discuss those results July 24.
'We are very excited about our business results and trends,' president and
CEO Michael Willner said in a prepared statement. 'The capital investment we've
made into our plant and technology, which is now largely behind us, is
delivering above and beyond the returns we expected. We look forward to speaking
with the investor community on the 24th to provide more details on the successes
of the quarter.'
The improved results helped to bump up Insight's stock 83 cents per share
Monday, or 8 percent, to $11.13 each. However, the stock is still down about 53
percent since the beginning of the year, when it traded at