Cablevision Systems Corporation Reports First Quarter 2008 Results

Thursday, May 8th, 2008
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BETHPAGE, N.Y. — Cablevision Systems Corporation (NYSE:CVC) today reported financial results for the first quarter ended March 31, 2008.

Cable Television

Cable Television first quarter 2008 net revenues increased 10.5% to $1.214 billion, AOCF rose 13.0% to $467.7 million and operating income increased 35.5% to $258.7 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 first quarter 2008 results.

The first quarter 2008 results reflect:

  • Basic video customers up 2,000 from December 2007 and down 14,000 or 0.4% from March 2007
  • iO: Interactive Optimum digital video customers up 41,000 or 1.6% from December 2007 and 158,000 or 6.3% from March 2007
  • Optimum Online high-speed data customers up 61,000 or 2.7% from December 2007 and 225,000 or 10.6% from March 2007
  • Optimum Voice customers up 93,000 or 5.8% from December 2007 and 367,000 or 27.8% from March 2007
  • Revenue Generating Units up 197,000 or 2.0% from December 2007 and 734,000 or 8.1% from March 2007
  • Cable Television RPS of $129.56, up $4.46 or 3.6% from the fourth quarter of 2007 and up $12.61 or 10.8% from the first quarter of 2007
                   CABLEVISION SYSTEMS CORPORATION
                   SUMMARY OF OPERATING STATISTICS
                             (Unaudited)

                                      March 31, December 31, March 31,
CABLE TELEVISION                        2008        2007       2007
------------------------------------- --------- ------------ ---------

Revenue Generating Units
(in thousands)
  Basic Video Customers                  3,125        3,123     3,139
  iO Digital Video Customers             2,669        2,628     2,511
  Optimum Online High-Speed Data
   Customers                             2,343        2,282     2,118
  Optimum Voice Customers                1,685        1,592     1,318
  Residential Telephone Customers            -            -         2
                                      --------- ------------ ---------
Total Revenue Generating Units           9,822        9,625     9,088
                                      ========= ============ =========

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