Falcon Cable revenues up for quarter, half-year

Falcon Cable Systems Monday reported increased revenues and cash flow for the quarter and half-year ended June 30, 1993.

7% rise since ’92

For the quarter, the California limited partnership said revenues increased by about 7% to $ 13.5 million, from $ 12.6 million in the year-earlier period.

Cash flow (operating income before depreciation and amortization expense) grew by more than 6% to $ 6.9 million, from $ 6.5 million the year before.

For the six months ended June 30, 1993, the partnership’s revenues grew 7% to $ 26.9 million, from $ 25 million in 1992. Cash flow increased 3% to $ 13.4 million, from $ 12 million last year.

The revenue and cash flow gains helped Falcon narrow its losses from prior periods.

The partnership posted a net loss of $ 1.3 million, or 21 cents per equivalent limited partnership unit, in the second quarter, compared to a net loss of $ 1.6 million (24 cents), in the second quarter of 1992.

$ 2.9 million loss

For the six-month period, net loss totalled $ 2.9 million, or 45 cents per equivalent limited partnership unit, compared with $ 3.5 million (53 cents) last year.

While chairman and CEO Marc B. Nathanson said the improved results were significant given the continued weak California economy, he was less optimistic looking forward.

“Falcon anticipates that the 1992 Cable Act and the FCC’s related rules will have a negative impact on the revenue and cash flow levels of the partnership once these rules become effective,” he said.

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