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Stock Market & Financial Investment News

News Breaks
January 3, 2013
10:12 EDTTWC, CSGSCSG Systems says amended deal may cut 2013 TWC revenues by 7.5%
CSG Systems (CSGS) announced in a press release after yesterday's closing bell that Time Warner Cable (TWC) has extended its customer care and billing contract with CSG through March 2017. In a regulatory filing following the press release, CSG stated the company currently generates a material portion of its revenues from Time Warner Cable, noting that for 3Q12, CSG generated approximately 10% of its total revenues from Time Warner. CSG said its amended agreement includes pricing adjustments effective April 1, 2013 for certain products and services currently in use by Time Warner and, in exchange for these pricing adjustments, the agreement extends CSG’s contractual relationship with Time Warner for an additional four years through March 31, 2017, and includes commitments from Time Warner to purchase a minimum level of certain products and services from CSG over the contract term. These minimum financial commitments are calculated in a similar manner, and are relatively consistent with the annual amounts in the Current Agreement, CSG said. CSG said the amended agreement will have no impact to its results of operations for 2012. Considering the pricing impacts of the agreement and CSG’s expectation of usage levels for current contracted business, CSG anticipates 2013 Time Warner revenues may decrease by approximately 7.5% when compared to 2012. The anticipated revenue impact in both the near and long terms may vary depending on the actual level of products and services purchased by Time Warner and the revenue impact is only an estimate, the company added. In early morning trading shares of CSG Systems International rose 10c, or 0.54%, to $18.72.
News For CSGS;TWC From The Last 14 Days
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August 26, 2015
09:02 EDTTWCTime Warner Cable Business named as national vendor by MiCTA
Time Warner Cable Business Class announced the company has been selected as an approved national vendor for MiCTA, an association representing non-profit groups, including schools, healthcare, government and other organizations. The approved vendor status allows MiCTA members to take advantage of fiber-delivered Ethernet services and Dedicated Internet Access offered by TWCBC, at a pre-negotiated rate. This also eliminates the need for members to conduct their own competitive bidding for services, which makes procurement streamlined, easier and more time-efficient.

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