CEO: Mediacom "very comfortable" with higher 2008 guidance

Despite the turbulent general economy, Mediacom Communications Corp. (Nasdaq:MCCC) CEO Rocco Commisso is confident about the cable-television company’s raised 2008 guidance. Commisso made the comments during a morning conference call.

Based on robust first-quarter results, Mediacom increased its 2008 revenue guidance to a range of $1.37 billion to $1.39 billion, from a previous range of $1.36 billion to $1.38 billion. Wall Street analysts project revenue of $1.38 billion.

“We had a solid start to 2008 and although we are headed into a seasonally slow period, we are raising our full-year guidance and plan to spend more to satisfy strong customer demands for HDTV and DVR set-top boxes,” Commisso said.

In response to an analyst’s inquiry, Commisso said the company is being careful not to put out numbers that it can’t meet. Mediacom is “very comfortable” with its guidance.

CFO Mark Stephan said the firm expects capital expenditure expenses during 2008 to total $275 million, compared with initial midpoint guidance of $260 million.

“Even at $207 per customer, we compare favorably with the industry average of more than $230,” Stephan said. “We believe we are being careful with our [capital expenditure] spending, so we are making sure we balance growth capital with network investment to keep us competitive in our markets. Moreover, this . . .

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