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Liberty Global adds 316,000 RGUs in Q3
2013-11-06 09:02:00| Telecompaper Headlines
(Telecompaper) Cable group Liberty Global added 316,000 revenue-generating units in the third quarter, taking its base to 47.8 million. This included gains of 214,000 broadband customers and 153,000 telephony customers, offset by the loss of 53,000 TV clients. The growth was better than the second quarter, thanks to an improved performance in central and eastern Europe, Belgium and the UK, the company said. Virgin Media in the UK was still losing RGUs, but UPC Netherlands returned to positive additions, thanks to new offers launched in September. Revenues for the third quarter rose 74 percent from a year earlier to USD 4.4 billion thanks to the Virgin takeover and were up 3 percent on an organic basis excluding forex effects. Operating cash flow rose 63 percent, or 3 percent on an organic basis, to USD 2.0 billion. Operating profit was up 3 percent to USD 522 million, while the net loss widened to USD 830 million or USD 2.09 per share due to losses on derivatives and higher tax and interest expense. The company's capital expenditure rose to USD 957 million or 22 percent of revenue in the quarter. Liberty finished the quarter with debt of USD 44.0 billion, cash of USD 2.2 billion and borrowing capacity of USD 3.3 billion. The sale of Chellomedia, expected to close in Q1 2014, will add another USD 1.0 billion cash to this. After spending USD 1.0 billion year-to-date on share repurchases, Liberty said it was on track to buy back USD 3.5 billion in stock by 2015.
Acer CEO Wang steps down after poor Q3 results
2013-11-06 08:40:00| Telecompaper Headlines
(Telecompaper) Acer CEO and Chairman J.T. Wang has decided to step down as CEO. He will remain chairman until his term expires next June, and Acer president Jim Wong will take over as CEO effective 1 January 2014. The move follows another difficult quarter for Acer. The company posted a net loss of TWD 13.1 billion (USD 445 million) for the third quarter on another impairment charge for previous acquisitions, and revenues fell 11.8 percent year-on-year to TWD 92.15 billion. The operating loss totaled TWD 2.57 billion due to extra costs for rolling out Windows 8.1, inventory management and compensation for the eMachines consumer litigation. Acer expects shipments of its notebooks, tablet PCs and Chromebooks to decrease by 10 percent in the fourth quarter compared to Q3, while the gross margin should improve. The company announced plans to set up a Transformation Advisory Committee with board member Stan Shih as Chairman and Acer co-founder George Huang as executive secretary. The committee will propose changes in the company vision, strategy and execution plans and work with the management team to carry out the transformation. To support new development needs, the board also approved the issue of 136 million new shares for a capital increase. The restructuring will lead to a one-time cost of USD 150 million in Q4 and a 7 percent reduction in the worldwide workforce, resulting in cost savings of USD 100 million annually from 2014.
Waste Management revenue up 4.6 per cent in Q3
2013-11-06 07:50:22| Waste Management - Topix.net
Waste Management, Inc. has announced a 4.6 per cent increase in its financial results for its quarter ended September 30, 2013, over the same period in 2012.
Tags: management
cent
waste
revenue
Waste Management revenue up 4.6 per cent in Q3
2013-11-05 21:16:00| Solid Waste & Recycling magazine Headlines
Waste Management, Inc. has announced a 4.6 per cent increase in its financial results for its quarter ended September 30, 2013, over the same period in 2012.
Tags: management
cent
waste
revenue
Waste Management revenue up 4.6 per cent in Q3
2013-11-05 21:16:00| Solid Waste & Recycling magazine Headlines
Waste Management, Inc. has announced a 4.6 per cent increase in its financial results for its quarter ended September 30, 2013, over the same period in 2012.
Tags: management
cent
waste
revenue
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