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CABLEVISION INDUSTRIES CORPORATION ANNOUNCES FOURTH QUARTER, 1992 RESULTS

 LIBERTY, N.Y., March 2 /PRNewswire/ -- Cablevision Industries Corporation ("CVI") today reported record results for the fourth quarter and full year 1992, citing increases in revenues and operating cash flows (operating income before depreciation and amortization).
 CVI's revenues for the fourth quarter, 1992 were $94,071,000 compared to $85,237,000 for the same period of 1991, an increase of 10.4 percent. Operating cash flow increased by 16.4 percent in the 1992 fourth quarter to $45,250,000, from $38,885,000 in the comparable 1991 quarter. Interest expense reduced to $27,601,000 in the fourth quarter, 1992 from $32,347,000 in the same period of 1991, a decrease of 14.7 percent.
 CVI's revenues were $363,991,000 for 1992 compared to $334,686,000 for 1991, an increase of 8.8 percent. Operating cash flow increased by 13.0 percent in 1992 to $173,790,000, from $153,795,000 in 1991. Interest expense reduced to $117,511,000 in 1992 from $133,055,000 in 1991, a decrease of 11.7 percent.
 At Dec. 31, 1992, total debt outstanding was $1,456,425,000 compared to $1,373,807,000 at Dec. 31, 1991, an increase of 6.0 percent but a decrease of 1.5 percent from total debt of $1,478,605,000 outstanding at Sept. 30, 1992. During the fourth quarter, 1992, the company completed a $250,000,000 financing for subsidiaries operating in Massachusetts and Florida with a syndicate of banks led by Royal Bank of Canada, as Agent and Morgan Guaranty Trust Company of New York and NationsBank, as Co- Agents. As a result of this financing, at Dec. 31, 1992, the Company had available $237,000,000 in unused bank commitments.
 CVI is one of the largest privately owned companies in the cable television industry. CVI and its affiliates currently operate cable television systems in 18 states serving approximately 1,200,000 basic subscribers. At Dec. 31, 1992, the Company's Owned Systems served 904,648 basic subscribers compared to 874,980 basic subscribers at Dec. 31, 1991.
 -0- 3/2/93
 /CONTACT: Rocco B. Commisso, executive vice president and chief financial officer of Cablevision Industries Corporation, 914-295-2750/


CO: Cablevision Industries Corporation ST: New York IN: ENT SU: ERN

SH -- NY088 -- 2031 03/02/93 14:26 EST
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Date:Mar 2, 1993
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