Virgin Media Q3 2008 Earnings Call Transcript

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2008-11-06 19:31:10.0

Tags: Company Representative, Media, Call Transcript, Earnings, UBS AG, Litigation, Taxes, Free Trade, Business Operations, Financial Planning, Finance, Seeking Alpha, Company Representative, Media, Call Transcript, Earnings, UBS AG, Litigation, Taxes, Free Trade, Business Operations, Financial Planning, Finance, Seeking Alpha, Virgin Media Inc.

Question-and-Answer Session

Thank you. [Operator Instructions]. Our first question comes through from Nick Lyall of UBS. Please go ahead.

Nick Lyall - UBS

Hi there. This is Nick Lyall for UBS. I just take two questions, if I could. The first one was on the cost price. I think the one offs from last Q3 '07, was there still 28 million of cost items, did they... or rather the advantages didn't occur this time. Can you just explain how many of those we should expect just to get the run rate in the cost right please.

And then secondly on the amendments, there you remember the terms of the debt and Sky, does it really free to investigate tax assets and savings or the market sis just too tough to allow you to investigate those. Do you think? Thanks.

Unidentified Company Representative

On the cost side, the Q3 '07 items were one-time in nature. So they related to employee related incentives as the stock based compensation, from litigation settlements in the quarter. So all of those were nonrecurring into Q3 '08, if I understood your question correctly.

Nick Lyall - UBS

Yes.

Unidentified Company Representative

Second question, I'm sorry?

Nick Lyall - UBS

Yes sorry the one bid was on the amendments that have done the sky deal. Are markets too tough for you to investigate things like tax assets and other changes at such a restructuring and or do you think now that the management time is freed up to watch your investigation of those?

Unidentified Company Representative

No what the amendment process has done for us is given us a flexibility to go off and work on these things. That's the best timing for the company. We'll continue to pursue the tight process monitorization as we've discussed in the past.

And we are making progress on several fronts on that and we will continue to pursues our over the coming month. And from a restructuring perspective we have talked in the past that we continue to look at our cost structure for... continue the efficiencies and we will request that further we'll see you at the appropriate time.

Nick Lyall - UBS

Okay that's great. Thank you

Operator

Thank you. Our next question comes through from David Kestenbaum from Morgan Joseph. Please go ahead.

David Kestenbaum - Morgan Joseph & Co Inc

Hey great. You didn't give any guidance this quarter, so I'm wondering are you still sticking with the things that you've said in the past about stronger customer and ARPU RGU growth in the back half of the year.

 

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