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TIME WARNER CABLE INC Reports Operating Results (10-K)

February 18, 2011 | About:
10qk

10qk

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TIME WARNER CABLE INC (TWC) filed Annual Report for the period ended 2010-12-31.

Time Warner Cable Inc. has a market cap of $25.63 billion; its shares were traded at around $72.05 with a P/E ratio of 19.2 and P/S ratio of 1.3. The dividend yield of Time Warner Cable Inc. stocks is 2.2%.Hedge Fund Gurus that owns TWC: Andreas Halvorsen of Viking Global Investors LP, Julian Robertson of Tiger Management, Lee Ainslie of Maverick Capital, Steven Cohen of SAC Capital Advisors, Steven Cohen of SAC Capital Advisors, Kenneth Fisher of Fisher Asset Management, LLC, George Soros of Soros Fund Management LLC, Paul Tudor Jones of The Tudor Group, Paul Tudor Jones of The Tudor Group, Jim Simons of Renaissance Technologies LLC, Bruce Kovner of Caxton Associates. Mutual Fund and Other Gurus that owns TWC: Howard Marks of Oaktree Capital, Howard Marks of Oaktree Capital, Dodge & Cox, HOTCHKIS & WILEY of Hotchkis & Wliey Capital Management LLC, Jeff Auxier of Auxier Focus Fund, Mario Gabelli of GAMCO Investors, Jeremy Grantham of GMO LLC, Richard Aster Jr of Meridian Fund, Jean-Marie Eveillard of First Eagle Investment Management, LLC, Jean-Marie Eveillard of First Eagle Investment Management, LLC.

Highlight of Business Operations:

In March 2010, the Company began paying a quarterly cash dividend of $0.40 per share of TWC common stock to TWC stockholders, which totaled $576 million during 2010. On January 26, 2011, TWCs Board of Directors declared an increased quarterly cash dividend of $0.48 per share of TWC common stock. Additionally, on October 29, 2010, TWCs Board of Directors authorized a $4.0 billion common stock repurchase program (the Stock Repurchase Program). Purchases under the Stock Repurchase Program may be made from time to time on the open market and in privately negotiated transactions. The size and timing of the Companys purchases under the Stock Repurchase Program are based on a number of factors, including price and business and market conditions. Through December 31, 2010, the Company repurchased 8.0 million shares of TWC common stock for $515 million, including 0.6 million shares repurchased for $43 million that settled in January 2011.

On November 3, 2010, the Company entered into a credit agreement for a $4.0 billion senior unsecured three-year revolving credit facility maturing in November 2013 (the $4.0 billion Revolving Credit Facility). In connection with the entry into this facility, the Companys $5.875 billion senior unsecured five-year revolving credit facility, scheduled to mature in February 2011, was terminated, and the Companys unsecured commercial paper program was reduced from $6.0 billion to $4.0 billion. The Companys obligations under the $4.0 billion Revolving Credit Facility are guaranteed by TWE and TW NY.

For more information about the 2010 Bond Offering and the $4.0 billion Revolving Credit Facility, see Managements Discussion and Analysis of Results of Operations and Financial ConditionOverviewRecent Developments2010 Bond Offering and $4.0 Billion Revolving Credit Facility and Note 9 to the accompanying consolidated financial statements.

On February 1, 2011, TWC entered into an agreement to acquire NaviSite, Inc. (NaviSite) for $5.50 per share of NaviSite common stock in cash, or a total equity value of approximately $230 million. As of February 1, 2011, NaviSite had approximately $50 million of debt and approximately $35 million of preferred equity. NaviSite provides enterprise-class hosting, managed application, messaging and cloud services. Its common stock is listed on the NASDAQ Capital

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