Regional pay television provider Austar United Communications has posted a first quarter loss of AU$28 million on an earnings before interest, tax, depreciation and amortisation basis (EBIDTA).
The result was a 21 percent improvement on Austar's EBITDA loss of AU$35.5 million in the fourth quarter of 2000 and was based on total revenues of around AU$85 million.
"This result shows a very disciplined performance. The management team has risen to the challenge of improving operating leverage and reducing capital expenditure," John Porter, Austar's chief executive said in a statement to the Australian Stock Exchange.
Shares in Austar were flat at 85 cents in early trade, a long way from their AU$2.87 year high, but off their 46 cent year low.
