Charter 2010 Annual Report Download - page 5
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00 Results
Charter continues to evolve to meet the growing needs of our residential
and business customers, and I am pleased to report that we achieved
significant progress during 2010. We increased revenues in high-speed
Internet, phone, video, commercial products and advertising, while
maintaining financial and operating discipline.
On a pro forma basis, we generated $7.003 billion in revenue during
2010, an increase of 4.8 percent year over year. Pro forma adjusted
EBITDA totaled $2.587 billion, an increase of 4.5 percent compared to
2009, and our pro forma adjusted EBITDA margin was 36.9 percent.
On a pro forma basis, income from operations was $1.015 billion,
while net loss attributable to shareholders was $230 million and net
loss per common share was $2.03 for the year.
We generated pro forma free cash flow, a key financial metric for our
industry, of $704 million in 2010, an achievement in which we take
great pride. We are also in a strong liquidity position with a solid
BB- credit rating from Standard & Poor’s. With lower leverage and
the generation of free cash flow, we have had favorable access to
capital markets.
We maintain a disciplined, return-based approach for deploying free
cash flow and have invested, and will continue to invest, in our business
to drive profitable revenue growth and maximize shareholder value.
Charter continues
to evolve to meet
the growing needs
of our residential
and business
customers