Cablevision adds 12,000 digital video customers in 1Q10

BETHPAGE, N.Y. — Cablevision Systems Corporation (NYSE:CVC) today reported financial results for the first quarter ended March 31, 2010.

Cable Television

Cable Television first quarter 2010 net revenues increased 5.6% to $1.343 billion, AOCF rose 7.8% to $539.0 million and operating income increased 19.6% to $349.7 million, each compared to the prior year period. The first quarter 2010 increases in net revenues, AOCF and operating income were principally driven by the growth in digital video, high-speed data, and voice customers as well as higher rates.

The first quarter 2010 results reflect:

• Basic video customers up 900 from December 2009 and down 37,900 or 1.2% from March 2009
• iO: Interactive Optimum digital video customers up 12,000 or 0.4% from December 2009 and 58,500 or 2.1% from March 2009
• Optimum Online high-speed data customers up 42,600 or 1.7% from December 2009 and 125,400 or 5.0% from March 2009
• Optimum Voice customers up 42,300 or 2.1% from December 2009 and 165,400 or 8.6% from March 2009
• Revenue Generating Units up 97,900 or 0.9% from December 2009 and 311,400 or 3.0% from March 2009
• Cable Television RPS of $146.15, up $2.12 or 1.5% from the fourth quarter of 2009 and up $9.60 or 7.0% from the first quarter of 2009.

Revenue Generating Units (in thousands):

                                March 31,  December 31,     March 31,
                                     2010          2009          2009
                             ------------  ------------  ------------
Basic Video Customers               3,064         3,063         3,102
iO Digital Video Customers          2,905         2,893         2,846