Dallas -- Marcus Cable Co. L.P. last Monday reported record
1998 first-quarter results, fueled by double-digit increases in its basic-cable business,
as well as in advertising sales.
Marcus, which reported a net loss of $32.9 million for the
opening quarter, said its revenue was $126.9 million -- up 10.9 percent from the
corresponding 1997 period -- on a pro forma basis, normalizing the effects of all
acquisitions, divestitures and other adjustments.
The company, which announced last month that Microsoft
Corp. co-founder Paul Allen had agreed to buy it for $2.8 billion, reported that its
basic-subscriber revenue rose 13.7 percent in the initial quarter, while its pay-per-view
revenue jumped 31 percent and its ad-sales volume soared by 44.4 percent, according to
Jeffrey A. Marcus, Marcus Cable's chairman, CEO and president.
Despite pro forma increases of 12.5 percent in programming
costs and nearly 50 percent in marketing expenses, Marcus said the company showed
improvement in its pro forma cable-system cash-flow margin, from 49.6 percent in the first
quarter of 1997 to 49.7 percent in the corresponding quarter this year.