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ADELPHIA COMMUNICATIONS ANNOUNCES THIRD QUARTER RESULTS

 COUDERSPORT, Pa., Feb. 16 /PRNewswire/ -- John J. Rigas, president and CEO of Adelphia Communications Corporation (NASDAQ: ADLAC) ("Adelphia"), today reported the results of operations for the third quarter which ended on Dec. 31, 1992.
 Third quarter results saw combined revenues and other income which amounted to $84.6 million, and cash flow from operating and other income which amounted to $51.3 million. Adelphia owned or managed for affiliates, cable television systems serving approximately 1,225,000 subscribers at Dec. 31, 1992. Adelphia and its subsidiaries served at Dec. 31, 1992, approximately 815,000 subscribers in its wholly owned cable television systems and 410,000 subscribers in its joint venture and managed cable television systems.
 Combined revenues and other income for the third quarter was up 11.2 percent, compared with the same period in the prior year; and cash flow from operating and other income was up 12.4 percent, compared with the same period in the prior year.
 Combined revenues and other income for the third quarter totaled $84.6 million compared with $76.1 million for the same period in the prior year. Cash flow for the third quarter totaled $51.3 million, compared with $45.7 million for the same period in the prior year. Net loss for the third quarter totaled $24.2 million, or $1.58 per share, compared with a net loss of $30.8 million, or $2.23 per share, for the same period in the prior year.
 The ratio of total long-term debt, net of cash and cash equivalents, over annualized cash flow for the quarter ended Dec. 31, 1992, was 8.17 to 1 compared with a ratio of 8.48 to 1 for the same period in the prior year.
 The ratio of cash flow over interest expense for the quarter ended Dec. 31, 1992, was 1.20 to 1 compared with a ratio of 1.08 to 1 for the same period in the prior year.
 The Class A common stock of Adelphia is traded under the symbol "ADLAC," on the NASDAQ National Market System.
 ADELPHIA COMMUNICATIONS CORPORATION AND SUBSIDIARIES
 Selected Financial Data
 (Dollars in thousands, except per share amounts)
 Period Ended Three Months Nine Months
 Dec. 31 1992 1991 1992 1991
 Income Statement Data:
 Revenues(A) $78,675 $70,515 $229,881 $205,308
 Operating expenses:
 Direct operating and
 programming(B) 21,319 18,902 61,110 55,906
 Selling, general and
 administrative(B) 11,983 11,532 35,628 33,383
 Depreciation and
 amortization 21,336 21,028 66,145 62,183
 Total 54,638 51,462 162,883 151,472
 Operating income 24,037 19,053 66,998 53,836
 Other income (expense):
 Priority investment
 income(A) 5,575 5,575 16,725 16,725
 Other income(A) 370 -- 1,002 --
 Interest expense (42,833) (42,110) (120,318) (125,507)
 Equity in net loss of
 Olympus joint venture
 partnership (11,372) (13,287) (45,862) (47,062)
 Total (48,260) (49,822) (148,453) (155,844)
 Loss before
 extraordinary loss (24,223) (30,769) (81,455) (102,008)
 Extraordinary loss on
 early retirement of
 debt -- -- (14,386) --
 Net loss (24,223) (30,769) (95,841) (102,008)
 Net loss per weighted
 average share $(1.58) $(2.23) $(6.35) $(7.38)
 (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).
 Dec. 31
 Balance Sheet Data: 1992 1991
 Cash and cash equivalents $113,992 $26,166
 Long-term debt:
 Notes to banks and institutions 1,149,166 1,216,008
 16.5 percent senior discount
 notes redeemed July 1, 1992 - net -- 241,785
 12.5 percent senior notes due 2003 400,000 --
 11-7/8 percent senior debentures
 due 2005 124,411 --
 13 percent senior subordinated notes
 due 1997 - net 99,290 99,147
 Other debt 17,684 18,247
 Total long-term debt 1,790,551 1,575,187
 -0- 2/16/93
 /CONTACT: Timothy J. Rigas, senior vice president of Adelphia Communications, 814-274-9830/
 (ADLAC)


CO: Adelphia Communications Corporation ST: Pennsylvania IN: TLS SU: ERN

CD-DM -- PG008 -- 6970 02/16/93 17:00 EST
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Date:Feb 16, 1993
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