Cablevision digital cable down 14,300 subscribers in 3Q09

Tuesday, November 3rd, 2009 
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BETHPAGE, N.Y. — Cablevision Systems Corporation (NYSE:CVC) today reported financial results for the third quarter ended September 30, 2009.

Cable Television

Cable Television third quarter 2009 net revenues increased 4.5% to $1.303 billion, AOCF rose 12.5% to $550.9 million and operating income increased 24.5% to $350.2 million, each compared to the prior year period. The 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 reflected in third quarter 2009 results. Third quarter 2009 AOCF and operating income include the impact of the items discussed above. Excluding these items, the growth in AOCF and operating income would have been 7.3% and 15.4%, respectively.

The third quarter 2009 results reflect:

  • Basic video customers down 27,300 or 0.9% from June 2009 and down 46,200 or 1.5% from September 2008
  • iO: Interactive Optimum digital video customers down 14,300 or 0.5% from June 2009 and up 73,800 or 2.6% from September 2008
  • Optimum Online high-speed data customers up 19,100 or 0.8% from June 2009 and 95,000 or 3.9% from September 2008
  • Optimum Voice customers up 34,000 or 1.7% from June 2009 and 176,400 or 9.7% from September 2008
  • Revenue Generating Units up 11,500 or 0.1% from June 2009 and 299,100 or 2.9% from September 2008
  • Cable Television RPS of $141.03, up $1.34 or 1.0% from the second quarter of 2009 and up $7.92 or 5.9% from the third quarter of 2008

Revenue Generating Units (in thousands):

                             September 30,       June 30,  September 30,
                                      2009           2009           2008
                             -------------  -------------  -------------
Basic Video Customers                3,066          3,093          3,112
iO Digital Video Customers           2,888          2,902          2,814

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