Comcast Q3 Profit Soars; Backs FY06 Outlook - Quick Facts 2

Comcast Q3 Profit Soars; Backs FY06 Outlook - Quick Facts 2

(RTTNews) - Comcast Corp. (CMCSA, CMCSK) said that net income increased to $1.2 billion, or $0.58 per share, in the third quarter of 2006, from net income of $222 million or $0.10 per share in the third quarter of 2005.

Excluding items, adjusted net income for the third quarter of 2006 would be $548 million or $0.26 per share. On average, 12 analysts polled by First Call/Thomson Financial expected earnings of $0.19 per share

Revenue increased 12% to $6.9 billion in the third quarter of 2006. Nine Wall Street analysts' consensus revenue estimate came in at $6.41 billion.

Comcast reaffirmed all previously issued guidance for 2006. In July, the company expected full year 2006, revenue growth of 10% - 11%. For the cable segment, the company expected full year revenue growth between 10%-11%.

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Comcast Settles with Ex-TCI Shareholders

Comcast Settles with Ex-TCI Shareholders

Comcast said Tuesday in a Securities and Exchange Commission filing that it will contribute about $44 million toward a settlement for former shareholders of Tele-Communications Inc.

In its 10-Q quarterly statement filed Oct. 31, Comcast said the suit stemmed from AT&T's purchase of TCI in 1999. At the time, several class-action suits were filed against both companies, claiming breach of fiduciary duties.

As part of its 2002 purchase of AT&T Broadband, Comcast agreed to indemnify AT&T for certain liabilities and to indemnify TCI's former directors for certain obligations regarding the lawsuits.

In the SEC filing, Comcast said a settlement agreement in principle was reached in October between the parties, subject to court approval. Comcast said in the filing that it agreed to contribute about $44 million to the settlement.

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Wright contributes $27,000 to campaign

Wright contributes $27,000 to campaign

Mayor Wright and his wife, Pat, took out $27,000 in loans to finance his campaign against former State. Sen. Jo Ann Graves during October.

Wright borrowed a total of $29,900 for his campaign, while Graves campaign funding consisted solely of contributions, campaign disclosures show. .

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Comcast Applies for Statewide Ind. Franchises

Comcast Applies for Statewide Ind. Franchises A total of 13 Comcast business units applied for state franchises in Indiana under the new regulatory scheme approved by the state legislature earlier this year. Those business units represent all of Comcast's systems in the state. If the applications, submitted Oct. 30, are complete, the state Utility Regulatory Commission could respond to them by Nov. 25. "During the debate on cable franchising, Comcast's primary goal was to ensure a level playing field in the marketplace," Comcast regional vice president of communications and public affairs Mark Apple said in a prepared statement. "A level playing field would allow us to continue to deliver innovative entertainment and communications services to Indiana consumers," he added. "Under the new state regulatory framework, applying for a state-issued cable franchise offers us the best opportunity to maintain a level playing field and build on our track record of innovation." Comcast is only the latest incumbent operator to apply for state operating oversight with the Indiana URC.

Surface Water and Wastewater rate presentation leads study session

Surface Water and Wastewater rate presentation leads study session

City Council members are scheduled Nov. 7 to hear a presentation from the Public Works Department about the proposed Wastewater and Surface Water utility rate adjustments for 2007 and 2008. The proposed rate increase for Wastewater is 5.4 percent for 2007 and 2008; the proposed overall rate increase for Surface Water is 3 percent for 2007 and 2008. The Council members are also scheduled to hear recommendations for human services program funding from the Human Services Commission. The Council will not take public comment during the noon study session in Tacoma Municipal Building North, Room 16. CityPost (Channel 85 on Click!, Channel 77 on Comcast) will air the audio portion of the session live. Replays of the study session audio may be heard Wednesday nights at 7 p.m. on CityPost (Channel 85 on Click!, Channel 77 on Comcast).

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