C’vision Corp. has record qtr.

Cablevision Industries Corp., one of the nation’s largest privately owned cable companies, reported record results for the second quarter and first six months of 1993, citing increases in revenues and operating cash flow.

Alan Gerry, chairman and chief executive officer, said the company was proud of the results but fretted about pending federal rate and carriage regulations.

He said the company was taking steps to minimize and offset the impact of the new rules.

CVI’s revenues for the second quarter were $ 100,405,000, compared to $ 90, 287,000 for the same period in 1992, an increase of 11.2%.

Operating cash flow increased by 12.6% in the 1993 second quarter to $ 48,009 ,000, from $ 42,620,000 in the comparable 1992 quarter, while the operating cash flow margin improved from 47.2% to 47.8% from period to period.

CVI’s revenues for the first six months of 1993 were $ 197,935,000, compared to $ 177,423,000 for the same period of 1992, an increase of 11.6%. Operating cash flow increased by 13.1% in the 1993 six-month period to $ 94,372,000, from $ 83,462,000 in the comparable 1992 period.

At June 30, 1993, total debt outstanding was $ 1,482,544,000, a reduction of $ 17,239,000 from March 31, 1993. Interest expense for the six-month period in 1993 declined to $ 57,992,000 from $ 61,653,000 in the same period of 1992, a decrease of 5.9%, due to a reduction in the company’s weighted average cost of debt capital.

At June 30, 1993, the ratio of total debt to second quarter annualized operating cash flow was 7.7 times, while the interest coverage ratio during the second quarter of 1993 was 1.7 times. At June 30, 1993, the company had available $ 217,000,000 in unused bank commitments.

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