Steve Mehs
03-03-03, 03:30 AM
On Friday, Pegasus executives didn't speak about continuing litigation with DirecTV, and rumors concerning an acquisition of the company, but they did promote some of financial and operating metrics achieved during 2002.
Pegasus CEO Mark Pagon said the company met a 2002 goal of becoming cash flow break-even, and he pointed out that Pegasus reduced its debt/EBITDA ratio. According to the company, consolidated free cash flow from operations totaled $136.3 million, up $122 million from 2001. Consolidated EBITDA totaled $193.3 million, up $126 million from 2001.
Pegasus reported a fourth quarter net loss applicable to common shares of $60.6 million, a $21.9 million decrease when compared to the $82 million loss reported during the same period in 2001.
Pagon also commented on DirecTV's effort to expand its slate of local TV packages to 100 markets. While a majority of the local TV market additions haven't been announced, Pagon said new local TV packages from DirecTV may cover approximately 62 percent of customers in Pegasus' rural territories - when taking into consideration the top 100 TV markets in the United States.
Pegasus sells DirecTV through its affiliates with the National Rural Telecommunications Cooperative.
From SkyReport (http://www.skyreport.com/skyreport/mar2003/030303.shtm#three) (Used with Permission)
Pegasus CEO Mark Pagon said the company met a 2002 goal of becoming cash flow break-even, and he pointed out that Pegasus reduced its debt/EBITDA ratio. According to the company, consolidated free cash flow from operations totaled $136.3 million, up $122 million from 2001. Consolidated EBITDA totaled $193.3 million, up $126 million from 2001.
Pegasus reported a fourth quarter net loss applicable to common shares of $60.6 million, a $21.9 million decrease when compared to the $82 million loss reported during the same period in 2001.
Pagon also commented on DirecTV's effort to expand its slate of local TV packages to 100 markets. While a majority of the local TV market additions haven't been announced, Pagon said new local TV packages from DirecTV may cover approximately 62 percent of customers in Pegasus' rural territories - when taking into consideration the top 100 TV markets in the United States.
Pegasus sells DirecTV through its affiliates with the National Rural Telecommunications Cooperative.
From SkyReport (http://www.skyreport.com/skyreport/mar2003/030303.shtm#three) (Used with Permission)