Cablevision Reports 770,100 Cable Modem Users, 20.8% Penetration

Cablevision, which serves 3 million households located in the New York metropolitan area, added 90,100 high-speed data (HSD) cable modem customers in Q4 2002, giving it a total of 770,100 customers. This represents a 20.8% penetration rate for its high-speed data service, compared to 17% in the same period a year earlier. HSD revenue per subscriber averaged $36.82 in December 2002, up 21% from $30.48 in the year-earlier period. Meanwhile, Cablevision recorded a loss of 5,300 cable subscribers in Q4. Cablevision also noted that its Lightpath telecommunications businesses throughout the New York metropolitan area achieved a 14% increase in net revenues to $41.9 million and a 65% increase in Adjusted EBITDA to $17.1 million, in each case compared to the prior year period.
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