Cablevision Systems Corporation Reports Fourth Quarter and Full Year 2007 Results

Thursday, February 28th, 2008
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  • Cable Television net revenue growth of 8.6% and 11.6% and AOCF growth of 13.3% and 9.6% for the quarter and full year, respectively
  • Quarterly addition of 208,000 Revenue Generating Units (“RGU”) including new basic and digital video, high-speed data and voice units
  • Average Monthly Revenue per Basic Video Customer (“RPS”) of $125.10 in the fourth quarter 2007
  • Rainbow AOCF growth of 9.0% and 44.1% for the quarter and full year, respectively
  • Madison Square Garden AOCF growth of 62.2% and 103.5% for the quarter and full year, respectively

BETHPAGE, N.Y. — Cablevision Systems Corporation (NYSE:CVC) today reported financial results for the fourth quarter and full year ended December 31, 2007.

Cable Television

Cable Television fourth quarter 2007 net revenues increased 8.6% to $1.172 billion, AOCF rose 13.3% to $478.6 million and operating income increased 32.6% to $266.7 million, each compared to the prior year period. The increases in net revenue, AOCF and operating income resulted principally from growth in digital video, high-speed data, and voice customers, which is reflected in the net addition of 798,000 Revenue Generating Units since the fourth quarter of 2006.

The fourth quarter 2007 results reflect:

  • Basic video customers up 1,000 from September 2007 and down less than 4,000 or 0.1% from December 2006
  • iO: Interactive Optimum digital video customers up 43,000 or 1.7% from September 2007 and 181,000 or 7.4% from December 2006
  • Optimum Online high-speed data customers up 62,000 or 2.8% from September 2007 and 243,000 or 11.9% from December 2006
  • Optimum Voice customers up 102,000 or 6.8% from September 2007 and 383,000 or 31.7% from December 2006
  • Revenue Generating Units up 208,000 or 2.2% from September 2007 and 798,000 or 9.0% from December 2006
  • Cable Television RPS of $125.10, up $4.19 or 3.5% from the third quarter of 2007 and up $9.80 or 8.5% from the fourth quarter of 2006
                            CABLEVISION SYSTEMS CORPORATION
                            SUMMARY OF OPERATING STATISTICS
                                     (Unaudited)

CABLE TELEVISION                      December 31,  September 30,  December 31,
                                         2007          2007           2006
Revenue Generating Units
(in thousands)
  Basic Video Customers .............   3,123         3,122          3,127
  iO Digital Video Customers.........   2,628         2,585          2,447
Penetration
  Basic Video to Homes Passed........   66.8%         67.2%          68.5%
  iO Digital to Basic Penetration ...   84.1%         82.8%          78.2%
Monthly Churn
  Basic Video .......................    2.0%          2.2%           1.8%
  iO Digital Video ..................    2.1%          2.5%           2.0%