Cablevision Reports Fourth Quarter and Full Year 2008 Results

Thursday, February 26th, 2009 
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BETHPAGE, N.Y. — Cablevision Systems Corporation (NYSE:CVC) today reported financial results for the fourth quarter and full year ended December 31, 2008.

Cable Television

Cable Television fourth quarter 2008 net revenues increased 7.4% to $1.258 billion, AOCF rose 4.1% to $498.1 million and operating income increased 10.0% to $293.5 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 fourth quarter 2008 results

The fourth quarter 2008 results reflect:

  • Basic video customers down 3,800 or 0.1% from September 2008 and down 14,900 or 0.5% from December 2007
  • Customer Relationships flat from September 2008 and up 8,300 or 0.2% from December 2007
  • iO: Interactive Optimum digital video customers up 22,800 or 0.8% from September 2008 and 208,500 or 7.9% from December 2007
  • Optimum Online high-speed data customers up 28,200 or 1.2% from September 2008 and 173,200 or 7.6% from December 2007
  • Optimum Voice customers up 53,400 or 2.9% from September 2008 and 286,600 or 18.0% from December 2007
  • Revenue Generating Units up 100,500 or 1.0% from September 2008 and 653,400 or 6.8% from December 2007
  • Cable Television RPS of $134.85, up $1.74 or 1.3% from the third quarter of 2008 and up $9.75 or 7.8% from the fourth quarter of 2007

Revenue Generating Units (in thousands):

                            December 31,  September 30,  December 31,
                                    2008           2008          2007
                            ------------  -------------  ------------
Basic Video Customers              3,108          3,112         3,123
iO Digital Video Customers         2,837          2,814         2,628

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