Cablevision Systems Corporation Reports First Quarter 2008 Results
Thursday, May 8th, 2008BETHPAGE, 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 ========= ============ =========
More: Earnings Release
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