Cablevision results in line though cash flow declines

• Cablevision Systems (NYSE:CVC) posted largely in-line Q4 results while cash flow slipped as customers declined slightly and costs rose in programming, marketing and HR.
• Adjusted operating cash flow declined 3.4%, to $441M, while operating income rose 22.1% to $205.8M.
• Revenue breakouts: Cable, $1.454B (up 3.1%). Lightpath, $90.3M (up 6.2%); other, $96.4M (down 0.6%).
• In Q4, average monthly cable revenues per customer of $155.20 were 5.3% higher Y/Y.
• Cable advertising revenue was up 9% Y/Y.
• Cablevision has about $455M left in a buyback authorization after repurchasing no shares in 2014.
• Press release