Tumblelog by Soup.io
Newer posts are loading.
You are at the newest post.
Click here to check if anything new just came in.
ienamjn2

Rogers Communications Information Secondly Quarter 2014 Outcomes - Yahoo Finance

Very high drilling success rates continue to be the norm in Rajasthan. These results continue to confirm the potential of the Barmer Basin characterized by a low-risk exploration environment unparalleled anywhere else in India. To date, as a result of the 2013-16 exploration and appraisal campaign, we have announced six new discoveries, currently either undergoing appraisal or appraisal planning. An additional two discoveries, namely SL-1 and NL-2, are undergoing flow testing. During Q1 FY15, we have drilled three successful exploration and four successful appraisal wells. Exploration well SL-1 has successfully drilled a new Dharvi Dungar prospect and flowed at an initial vertical rate of 120bopd from the Dharvi Dungar formation. Exploration well NL-2 successfully drilled a Barmer Hill porcellenite play, flowing at an initial vertical rate of 100-150 bopd. We anticipate that fractured, horizontal wells within both the Barmer Hill and Dharvi Dungar Formations, together with artificial lift, will act to significantly increase well productivities and recoveries. These two discoveries, together with Kaam W-8, have successfully flowed hydrocarbons to surface. Well DP West-1 successfully appraised a fault block adjacent to the DP-1 well drilled earlier in the campaign. Together with the NL discovery, we anticipate significant volume additions in this complex whose value can be optimized through rapid tie-back to the Mangala facilities. Exploration well GSV-2 was a successful drill-out of a Fategarh and fractured volcanics play which we anticipate to appraise in the FY16 drilling campaign. Appraisal well Raag Deep SW-1 was the first of an exciting 5-well appraisal program planned for up-side realization of the existing Raag Deep Gas Field. Additional appraisal wells will follow as part of the current drilling campaign. Appraisal well Mangala East -2 comprised a successful down-dip evaluation of the existing Barmer Hill field at Mangala and is currently undergoing detailed evaluation. Well Guda S-8 was the second of an 8 well program designed to test the flanks of the existing Guda Dharvi Dungar field, significantly boosting existing 2C resources.
For the original version including any supplementary images or video, visit http://www.prnewswire.com/news-releases/cairn-india-limited-first-quarter-financial-results-for-the-period-ended-30th-june-2014-268301462.html

This represents a sequential improvement from the 3% decline in the first quarter of 2014 and is the net result of: higher data revenue related to an increase in postpaid subscriber levels and higher usage of wireless data services; offset by the continued adoption of customer friendly simplified pricing plans, which generally bundle in certain features like voicemail, caller ID and domestic long-distance for which we have charged separately in the past, and the introduction over the past twelve months of lower priced US and international roaming plans and rates which offer consumers more value. Excluding the decline in roaming revenue, network revenue would have increased 2% this quarter and 1% year to date compared to the same periods last year. Postpaid churn continued to improve this quarter falling four basis points to 1.13%, compared to 1.17% in the second quarter of 2013. We believe the improved churn rate is partly attributable to our simplified pricing plans and the introduction of our higher value roaming plans. Gross postpaid subscriber additions were 312,000 this quarter or 17% lower than the same period last year, which reduced net postpaid subscriber additions to 38,000, despite the lower postpaid churn. The industry transition from three year to two year plans as a result of the recent adoption of the Canadian Radio-television and Telecommunications Commission (CRTC) Wireless Code appears to have slowed overall wireless subscriber growth over the past year. We activated and upgraded approximately 588,000 smartphones for new and existing subscribers this quarter, compared to approximately 678,000 in the same period last year. The decrease was mainly because there was an 8% reduction in hardware upgrades by existing subscribers this quarter together with the 17% reduction in gross additions. The percentage of subscribers with smartphones this quarter was 76% of our total postpaid subscriber base, compared to 72% in the second quarter of last year. Smartphone subscribers typically generate significantly higher ARPU and are less likely to churn than customers on less advanced devices. Data revenue was 12% higher this quarter and 11% higher year to date compared to the same periods last year, mainly because of the continued penetration and growing use of smartphones, tablet devices and wireless laptops, which are increasing the use of e-mail, Internet access, social media, mobile video, text messaging and other wireless data services. Data revenue exceeded voice revenue and represented approximately 51% of total network revenue this quarter, compared to approximately 46% in the same period last year. Lower equipment sales Revenue from equipment sales was 12% lower this quarter and 1% lower year to date compared to the same periods last year mainly because of the fewer existing subscriber upgrades and the lower number of gross activations. Year to date, this impact was offset by a shift in the mix of smartphones activated to higher priced devices. During the second quarter, customers choosing to upgrade wireless devices represented approximately 5% of the postpaid subscriber base compared to 6% in the prior year period. Lower operating expenses The cost of equipment sales was 12% lower this quarter and 13% lower year to date compared to the same periods last year, mainly because of fewer subscriber hardware upgrades and fewer gross activations, as described above. Total customer retention spending (including subsidies on handset upgrades) was $209 million this quarter, consistent with $208 million in the same period last year. Year to date retention spending decreased to $420 million compared to $455 million last year as 11% fewer existing subscribers upgraded their hardware. Other operating expenses (excluding retention spending) were up by 1% this quarter as improvements in cost management and efficiency were offset by investments in customer care, and were relatively consistent year to date. Higher adjusted operating profit Adjusted operating profit was 3% higher this quarter and year to date compared to the same periods last year because of: continued growth of wireless data revenue and improvement in churn lower volumes of hardware sales and upgrades partially offset by pricing changes associated with our simplified plans and the introduction of lower priced and higher value roaming plans. CABLE Includes television, Internet and phone subscribers. Operating revenue Overall cable revenue this quarter and year to date was consistent to the same periods last year, the net result of: continued growth in subscribers to our Internet and phone products combined with the impact of pricing changes the May 2013 acquisition of Mountain Cable offset by television subscriber losses and retention-related discounting. Lower television revenue Revenue from television was down this quarter and year to date as a result of: the year-over-year decline in television subscribers the impact of promotional and retention pricing activity associated with heightened pay TV competition partially offset by the acquisition of Mountain Cable and the impact of pricing changes implemented over the past year. The digital cable subscriber base represented 86% of our total television subscriber base at the end of the quarter, compared to 82% at June 30, 2013 . The larger selection of digital content, video on-demand, HDTV and PVR equipment, combined with the ongoing analog to digital conversion initiative, continues to contribute to the increasing penetration of the digital subscriber base as a percentage of our total television subscriber base. Higher Internet revenue Internet revenue was 9% higher this quarter and year to date compared to the same periods last year as a net result of a larger Internet subscriber base, general movement to higher end speed and usage tiers, and changes in Internet service pricing. Our Internet customer base is approximately 2.0 million subscribers, and Internet penetration represents: 96% of our television subscribers, compared to 88% at June 30, 2013 50% of the homes passed by our cable network, compared to 49% at June 30, 2013 . Lower cable telephony revenue Phone revenue was 3% lower this quarter and 2% lower year to date compared to the same periods last year. This was the net result of: higher promotional pricing activity for new subscribers on multi-product bundles partially offset by a higher phone subscriber base and the impact of pricing changes. There were 2% more phone subscribers this quarter compared to last year, the penetration of which now represents: 56% of our television subscribers, compared to 52% last year 29% of the homes passed by our cable network, compared to 29% last year. Higher operating expenses Operating expenses were 2% higher this quarter and 3% higher year to date compared to the same periods last year mainly due to: higher investments in customer care and network incremental costs associated with Mountain Cable which was acquired in May 2013 partially offset by various cost efficiency and productivity initiatives. Additionally, year to date Cable results in 2013 benefitted from a one-time $8 million positive adjustment to licence fees payable to match the CRTC's billing period. Adjusted operating profit Adjusted operating profit was 2% lower this quarter and 3% lower year to date compared to the same periods last year, mainly the net result of the service revenue levels which were consistent and the higher operating expenses as discussed above. BUSINESS SOLUTIONS 41 1 The operating results of Blackiron are included in the Business Solutions results of operations from the date of acquisitions on April 17, 2013. Pivot Data Centres' results are excluded from Business Solutions' 2013 comparative results of operations as it was acquired on October 1, 2013.
For the original version including any supplementary images or video, visit http://finance.yahoo.com/news/rogers-communications-reports-second-quarter-105700205.html

Don't be the product, buy the product!

Schweinderl