Cablevision: Nearly 250,000 Optimum subscribers still don't have power from Hurricane Sandy
Cablevision (NYSE: CVC) said Saturday that nearly 250,000 of its Optimum subscribers in parts of New Jersey, New York and Connecticut still didn't have power as a result of damage caused by Hurricane Sandy.
Most of the impacted subscribers are on Western Long Island, where Cablevision said 99,677 don't have electricity. The company said 81,724 subscribers in New Jersey still didn't have power as of Saturday. Cablevision operates systems in parts of New Jersey that saw the most extensive damage, including Seaside Heights, Mantoloking, Brick and Belmar.
Cablevision CFO Greg Seibert said the MSO expects that most of the losses it will report from Hurricane Sandy will be reflected in its fourth-quarter earnings. "Suffice to say the impact could be significant," Seibert told analysts on the company's third-quarter earnings call last week.
Cablevision said it will offer to credit the bills of subscribers for days they have been without service, but only if they request the bill credits.
Chart courtesy of Cablevision.
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