Press Release: 1995-08-14: Tele-Communications International, Inc. form 10-Q
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Original source: www.tci.com (archived)
08.14.95 TELE-COMMUNICATIONS INTERNATIONAL, Inc. ENGLEWOOD, COLORADO Tele-Communications International, Inc. announced today that the Company filed with the Securities and Exchange Commission its first Form 10-Q since initial public offering on July 18, 1995. reported total revenues of $47.4 million for the six months ended June 30, 1995, compared to $17.6 million for the same period in 1994. Operating loss before depreciation and amortization ("Operating Cash Flow deficit") was $1.6 million for the six month period ended June 30, 1995, compared to an Operating Cash Flow deficit of $9.1 million for the corresponding period in 1994. Is a leading operator of broadband cable television and telephony distribution networks in, and a provider of diversified programming services to, selected markets outside the United States. The Company's activities are concentrated in Europe, Latin America and Asia. has ownership interests in companies operating broadband networks that, at June 30, 1995, provided cable television service to an aggregate of approximately 2.3 million basic subscribers and, in the United Kingdom ("UK"), provided over 355,000 telephone lines. Adam Singer, President and Chief Operating Officer, stated " has made significant progress in the last three months in developing its three main businesses - cable television, programming and cable telephony in each of its three main markets, the UK, Argentina and Japan." In the UK, owns 37.8% of TeleWest Communications plc ("TeleWest"), the leading provider of cable television and telephony services in the UK, and 50.9% of Flextech p.l.c. an integrated television programming enterprise. On an equity basis as of June 30, 1995, TeleWest served 255,000 cable subscribers and 246,000 telephone lines as compared to 173,000 cable subscribers and 115,000 lines as of June 30, 1994. For the six months ended June 30, 1995, the average monthly revenue per cable subscriber was $36.05 and per telephone line was $43.03. As of June 30 ,1995, the number of cable homes in the UK exceeded the 1,000,000 mark and the number of homes receiving satellite signals exceeded 3 million. The British Audience Research Bureau's statistics for the six months ended June 30,1995 show that cable and satellite viewing share in multi-channel households has risen to 33.8% and Flextech's share of basic viewing was 30%. Flextech's equity share of negative cash flow from its programming investments for the 6 months ended June 30, 1995 was approximately $6 million, an improvement of $9 million over the comparable period in 1994. This is from revenues (again on an equity basis) of approximately $50 million, an increase of approximately 50% over the comparable period in 1994. In Argentina, owns 51% of Cablevision S. A., the leading cable television operator in Buenos Aires. As of May 31, 1995, subscribers had increased to 426,000 and operating cashflow for the five months ended May 31, 1995 was $27.4 million. In July 1995, acquired 35% of Torneos y Competencias S. A. ("TyC") for $30 million. During the next five years, TyC stockholders will be eligible to receive additional consideration, provided certain specific earnings goals are achieved. TyC is the largest sports programmer in Argentina reaching 1.6 million cable subscribers and 12 million people via broadcast television. Additionally, TyC currently owns exclusive television rights to all soccer games sanctioned by the Asociacion del Futbol Argentino through the year 2004, with a right to extend such arrangements through the year 2014. The balance of their programming includes other Argentine and foreign sporting events. Jupiter Telecommunications Co. Ltd. ("Jupiter"), the leading multiple system cable television operator in Japan is a joint venture between and Sumitomo Corporation. Jupiter now has interests in 711,000 franchise homes (563,000 as of March 31, 1995) and has begun technical telephone trials over its network. In July 1995, acquired an additional 14.75% interest in Asia Business News (Singapore) Pte Limited ("ABN"), increasing its ownership to 44.25%. ABN reaches over 27 million homes. Mr. Tomiichi Akiyama and Mr. Pierre Lescure have joined the board of directors. Mr. Akiyama serves as President of Sumitomo Corporation, one of the world's leading integrated trading companies. Mr. Lescure serves as CEO of Canal + and Chairman and CEO of Le Studio Canal +, one of the foremost media groups and leaders in pay television in the world. "With the closing of the Torneos deal in Argentina and its stream of quality sports programming, with Jupiter adding 148,000 new franchise homes and starting telephony trials, and the increase in Flextech's audience viewing share, is delivering the fruits of promise," stated Fred Vierra, Chairman and CEO of . Tele-Communications International, Inc. is traded on the Nasdaq National Market under the symbol "TINTA". Tele-Communications, Inc., currently owns 82% of the total outstanding shares of TINTA.