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ADELPHIA COMMUNICATIONS ANNOUNCES FISCAL YEAR-END RESULTS

 ADELPHIA COMMUNICATIONS ANNOUNCES FISCAL YEAR-END RESULTS
 COUDERSPORT, Pa., June 29 /PRNewswire/ -- John J. Rigas, president and CEO of Adelphia Communications Corporation ("Adelphia"), reported the results of operations for the fiscal year which ended on March 31, 1992.
 Fiscal 1992 results saw record levels of combined revenues and other income which amounted to $300.0 million, and cash flow from operating and other income which amounted to $180.8 million. Adelphia owned or managed for affiliates, cable television systems serving approximately 1,193,000 subscribers at March 31, 1992. Adelphia and its subsidiaries served at March 31, 1992, approximately 792,000 subscribers in its wholly owned cable television systems and 401,000 subscribers in its joint venture and managed cable television systems.
 Combined revenues and other income for the year were up 10.7 percent, compared with the prior year; and cash flow from operating and other income was up 10.4 percent, compared with the prior year.
 Combined revenues and other income for the year totaled $300.0 million, compared with $271.1 million for the prior year. Cash flow was $180.8 million, compared with $163.7 million for the prior year. Combined revenues and other income for the quarter ended March 31, 1992, totaled $77.9 million, compared with $73.3 million for the prior year. Cash flow for the quarter ended March 31, 1992 totaled $48.0 million, compared with $42.3 million for the prior year. Net loss for the year totaled $121.6 million, or $8.80 per share, compared with a net loss of $141.4 million, or $10.23 per share, for the prior year.
 The ratio of total long-term debt over annualized cash flow for the quarter ended March 31, 1992, was 8.09 to 1 compared with a ratio of 8.85 to 1 for the same period in the prior year.
 The ratio of cash flow over interest expense for the quarter ended March 31, 1992, was 1.22 to 1, compared with a ratio of 1.02 to 1 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 March 31 Three Months Year
 1992 1991 1992 1991
 Revenues(A) $71,407 $65,991 $276,715 $250,182
 Operating expenses:
 Direct operating and
 programming(B) 18,881 18,781 74,787 66,007
 Selling, general and
 administrative(B) 11,044 12,299 44,427 41,421
 Depreciation and
 amortization 22,634 20,216 84,817 79,427
 Total 52,559 51,296 204,031 186,855
 Operating income 18,848 14,695 72,684 63,327
 Other income (expense):
 Priority investment
 income(A) 5,575 6,907 22,300 19,175
 Other income(A) 968 438 968 1,750
 Interest expense (39,332) (41,354) (164,839) (163,637)
 Equity in net loss of
 Olympus joint venture
 partnership (5,656) (21,271) (52,718) (61,975)
 Total (38,445) (55,280) (194,289) (204,687)
 Net loss (19,597) (40,585) (121,605) (141,360)
 Net loss per share $(1.42) $(2.94) $(8.80) $(10.23)
 (A) Combined revenues and other income is comprised of the three 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: 3/31/92 3/31/91
 Cash and cash equivalents $11,173 $18,592
 Long-term debt:
 Notes to banks
 and institutions 1,192,967 1,163,125
 16.5 percent Senior Discount
 Notes due 1999 - net 250,000 214,528
 13 percent Senior Subordinated
 Notes due 1997 - net 99,181 99,051
 Other debt 12,122 18,321
 Total long-term debt 1,554,270 1,495,025
 -0- 6/29/92
 /CONTACT: Timothy J. Rigas, senior vice president of Adelphia Communications, 814-274-9830/
 (ADLAC) CO: Adelphia Communications Corporation ST: Pennsylvania IN: TLS SU: ENT


JT-XX -- PG010 -- 4918 06/29/92 17:19 EDT
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Date:Jun 29, 1992
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