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COMCAST REPORTS RECORD YEAR-END RESULTS

 PHILADELPHIA, March 18 /PRNewswire/ -- Comcast Corporation (NASDAQ-NMS: CMCSA, CMCSK) today reported outstanding growth in revenues and operating cash flow for the year ended December 31, 1992.
 Results included the consolidation of the Company's 50 percent ownership interest in Storer Communications, Inc. effective Dec. 2, 1992, and the combined results of the Metrophone cellular properties since March 5, 1992.
 Revenues for the year ended 1992 were $900,345,000, an increase of 25 percent over the revenues of $721,000,000 for the same period in 1991. Comcast reported operating cash flow (defined as income before non-cash charges, interest and income taxes) of $397,153,000 as compared to $309,250,000 for the prior year, representing an increase of 28 percent. Comcast recorded a net loss of $270,232,000 or $2.01 per share, as compared to a net loss of $155,572,000 for the prior year.
 Results of operations included the effect of recording the company's proportionate share of the losses associated with its 50 percent ownership of Storer Communications Inc. through Dec. 2, 1992, and its 4O percent ownership of Garden State Cablevision L.P. for the full year. Neither the operating results nor the financial condition of the Storer systems are included in the company's statements prior to Dec. 2, 1992, the effective date of consolidation.
 Brian L. Roberts, president of Comcast, stated, "1992 was a watershed year for Comcast. Our cable and cellular businesses produced excellent growth in subscribers, revenues and cash flow. On December 2, 1992, we completed the consolidation of our 50 percent interest in Storer Communications, Inc. This transaction greatly simplifies our financial reporting, allowing us to reflect our share of Storer's operating results in our financial statements. Earlier in the year we combined our cellular telephone properties with those of Metrophone, more than tripling the population of our markets served. These transactions represent two important strategic steps that further enhance the company's position in both wire and wireless communications."
 Comcast Corporation is principally engaged in the development, management and operation of cable and cellular communications systems. The company's consolidated and affiliated operations served more than 2.9 million subscribers at Dec. 31, 1992. The company provides cellular telephone services in the Northeast United States to markets encompassing a population in excess of 7.4 million. Comcast also has investments in cable programming, telecommunications systems and international cable and telephony franchises.
 The Class A and Class A Special Common Stock are traded in the over- the-counter market and are reported in the National Market System under the NASDAQ symbols CMCSA and CMCSK, respectively.
 COMCAST CORPORATION
 Consolidated Statement of Operations
 (Unaudited; in thousands, except per-share data)
 Year ended Dec. 31 1992 1991 1990
 Service income $900,345 $721,000 $650,941
 Cost and expenses 503,192 411,750 379,774
 Operating cash flow 397,153 309,250 271,167
 Depreciation & amortization 232,047 164,299 161,218
 Interest expense, net 262,979 201,459 211,120
 Equity in net losses of affiliates 104,306 83,366 79,765
 Minority interest 1,756 2,900 2,121
 Total 601,088 452,024 454,224
 Loss before income taxes and
 extraordinary item (203,935) (142,774) (183,057)
 Income taxes (benefit) 14,000 12,798 (4,651)
 Loss before extraordinary item (217,935) (155,572) (178,406)
 Extraordinary item -- equity in net
 loss from early extinguishment of
 debt by an affiliate (52,297) --- ---
 Net loss (270,232) (155,572) (178,406)
 Loss per share:
 Loss before extraordinary item $(1.62) $(1.31) $(1.58)
 Extraordinary item (.39) --- ---
 Net loss $(2.01) $(1.31) $(1.58)
 Weighted average number of
 shares outstanding 134,543 119,143 112,910
 Cash dividends declared per share $.140 $.140 $.120
 Consolidated Balance Sheet
 (Unaudited; in thousands)
 Dec. 31 1992 1991
 Current assets $428,561 $645,490
 Investments, principally in affiliates 356,191 894,899
 Property and equipment, net 957,086 504,824
 Deferred charges, net 2,530,060 748,371
 Total assets 4,271,898 2,793,584
 Current liabilities 391,675 264,307
 Long-term debt, less current portion 3,973,514 2,452,912
 Deferred income taxes and other 88,350 56,885
 Stockholders' equity (deficiency) (181,641) 19,480
 Total liabilities and
 stockholders' equity (deficiency) $4,271,898 $2,793,584
 /delval/
 -0- 3/18/93
 /CONTACT: John R. Alchin, 215-981-7503, or Marolyn L. Bailey, 215-981-7550, both of Comcast/
 (CMCS)


CO: Comcast Corporation ST: Pennsylvania IN: TLS SU: ERN

CC -- PH001 -- 7297 03/18/93 08:33 EST
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Date:Mar 18, 1993
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