Charter Communications Inc A CHTR
Q2 2012 Earnings Call Transcript

Transcript Call Date 08/07/2012

Operator: Good morning. My name is Lisa and I will be your conference operator today. At this time, I would like to welcome everyone to the Q2 2012 Charter Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks there will be a question and answer session. Thanks you.

Ms. Gutzler, you may begin your conference.

Robin Gutzler - IR: Thank you, Lisa. Good morning everyone and welcome to Charter's 2012 second quarter earnings call. This morning we issued a press release over PR Newswire at 8.00 am Eastern Time detailing our results.

Before we proceed, I would like to remind you that there are a number of risk factors and other cautionary statements contained in our SEC filings including our most recent forms 10-K and 10-Q. We will not review those risk factors and other cautionary statements on this call; however, we encourage you to read them carefully.

Various remarks that we make on this call concerning expectations, predictions, plans and prospects constitute forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ from historical or anticipated results. Any forward-looking statements reflect management's current view only and Charter undertakes no obligation to revise or update such statements or to make additional forward-looking statements in the future.

During the course of today's call, we'll be referring to non-GAAP measures as defined and reconciled in this morning's earnings release. These non-GAAP measures, as defined by Charter, may not be comparable to measures with similar titles used by other companies.

In today's earnings release, we reported results in accordance with GAAP as well as pro forma results for 2011. The pro forma results reflect the acquisition of certain cable systems in 2011 as if they had occurred on January 1, 2011, unless otherwise noted. The year-over-year growth rates we will be referring to this morning are on a pro forma basis.

Joining me on today's call are Tom Rutledge President and CEO; and Chris Winfrey, our CFO. The presentation that accompanies their comments can be found on our website under Financial Information. The press release and trending schedules are also posted on our website under Investor and Newscenter.

With that, I'll turn the call over to Tom.

Thomas M. Rutledge - President and CEO: Thank you, Robin. Good morning and thank you for joining us. In the second quarter of 2012 we delivered revenue growth of nearly 5% year-over-year, increased adjusted EBITDA 2.7% and generated free cash flow of $26 million. Video relationships declined reflecting typical seasonal second quarter seasonality but the trends for all products improved compared to the prior year.

Our fundamental objectives haven't changed since we last reported. We're enhancing our video products and overall customer experience using our superior internet product coupled with video and voice to drive relationships and growing our commercial business. As we entered the second half of 2012, we improved our product set particularly video. We accelerated the expansion our HD offering with over 100 channels now available in substantially all of our footprint.

Read our Earnings Call Transcript disclaimer.
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