Cablevision Systems Corporation Reports Third Quarter 2008 Results

Thursday, November 6th, 2008
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BETHPAGE, NY — Cablevision Systems Corporation (NYSE:CVC) today reported financial results for the third quarter ended September 30, 2008.

Cable Television

Cable Television third quarter 2008 net revenues increased 9.8% to $1.247 billion, AOCF rose 13.6% to $489.7 million and operating income increased 32.9% to $281.2 million, each compared to the prior year period. The increases in net revenue, AOCF and operating income were principally driven by the growth in digital video, high-speed data, and voice customers as well as higher rates reflected in third quarter 2008 results.

The third quarter 2008 results reflect:

  • Basic video customers down 19,100 or 0.6% from June 2008 and down 9,900 or 0.3% from September 2007
  • Customer Relationships down 13,500 or 0.4% from June 2008 and up 18,500 or 0.6% from September 2007
  • iO: Interactive Optimum digital video customers up 25,100 or 0.9% from June 2008 and 228,800 or 8.8% from September 2007
  • Optimum Online high-speed data customers up 31,600 or 1.3% from June 2008 and 207,700 or 9.4% from September 2007
  • Optimum Voice customers up 58,000 or 3.3% from June 2008 and 334,700 or 22.5% from September 2007
  • Revenue Generating Units up 95,600 or 0.9% from June 2008 and 761,200 or 8.1% from September 2007
  • Cable Television RPS of $133.11, up $0.82 or 0.6% from the second quarter of 2008 and up $12.20 or 10.1% from the third quarter of 2007

Cable Television Revenue Generating Units (in thousands):

                              Sept  30,    June 30,   Sept  30,
                                   2008        2008        2007
                              ---------   ---------   ---------
Basic Video Customers             3,112       3,132       3,122
iO Digital Video Customers        2,814       2,789       2,585

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