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ADELPHIA COMMUNICATIONS ANNOUNCES THIRD QUARTER RESULTS

ADELPHIA COMMUNICATIONS ANNOUNCES THIRD QUARTER RESULTS
 COUDERSPORT, Pa., Feb. 14 /PRNewswire/ -- John J. Rigas, president and CEO of Adelphia Communications Corporation ("Adelphia") (NASDAQ: ADLAC), reported the results of operations for the third quarter which ended on Dec. 31, 1991.
 Third quarter results saw combined revenues and other income which amounted to $76.1 million, and cash flow from operating and other income which amounted to $45.7 million. Adelphia owned or managed for affiliates, cable television systems serving approximately 1,181,000 subscribers at Dec. 31, 1991. Adelphia and its subsidiaries served at Dec. 31, 1991, approximately 787,000 subscribers in its wholly owned cable television systems and 394,000 subscribers in its joint venture and managed cable television systems.
 Combined revenues and other income for the third quarter was up 13.0 percent, compared with the same period in the prior year; and cash flow from operating and other income was up 9.9 percent, compared with the same period in the prior year.
 Combined revenues and other income for the third quarter totaled $76.1 million compared with $67.4 million for the same period in the prior year. Cash flow for the third quarter totaled $45.7 million, compared with $41.5 million for the same period in the prior year. Net loss for the third quarter totaled $30.8 million, or $2.23 per share, compared with a net loss of $33.5 million, or $2.42 per share, for the same period in the prior year.
 The Class A common stock of Adelphia is traded under the NASDAQ symbol "ADLAC."
 ADELPHIA COMMUNICATIONS CORPORATION AND SUBSIDIARIES
 Selected Financial Data
 (Dollars in thousands, except per share amounts)
 Income statement data
 Period Ended Three Months Nine Months
 Dec. 31 1991 1990 1991 1990
 Revenues(A) $70,515 $62,607 $205,308 $184,191
 Operating expenses
 Direct operating and
 programming(B) 18,902 16,010 55,906 47,226
 Selling, general and
 administrative(B) 11,532 9,810 33,383 29,122
 Depreciation and
 amortization 21,028 20,397 62,183 59,211
 Total 51,462 46,217 151,472 135,559
 Operating income 19,053 16,390 53,836 48,632
 Other income (expense):
 Priority investment and
 other income(A) 5,575 4,762 16,725 13,580
 Interest expense -
 net (42,110) (41,828) (125,507) (122,283)
 Equity in net loss
 of joint venture
 partnership (13,287) (12,804) (47,062) (40,704)
 Total (49,822) (49,870) (155,844) (149,407)
 Net loss (30,769) (33,480) (102,008) (100,775)
 Net loss per share $(2.23) $(2.42) $(7.38) $(7.29)
 (A) Combined revenues and other income is comprised of the two items indicated with (A).
 (B) Cash flow is comprised of combined revenues and other income less the two items indicated with (B).
 Balance sheet data Dec. 31, 1991 Dec. 31, 1990
 Cash and cash equivalents $26,166 $17,339
 Long-term debt:
 Notes to banks and institutions 1,216,008 1,148,125
 16.5 percent senior discount
 notes due 1999 - net 241,785 206,285
 13 percent senior subordinated
 notes due 1997 - net 99,147 99,022
 Other debt 18,247 19,229
 Total long-term debt 1,575,187 1,472,661
 -0- 2/14/92
 CONTACT: Timothy J. Rigas, senior vice president of Adelphia Communications, 814-274-9830
 (ADLAC)
CO: ADELPHIA COMMUNICATIONS CORPORATION
IN: TLS
SU: ERN
ST: PENNSYLVANIA (PA)


-- PG003 -- 9052 02/14/92
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