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Cablevision Systems reports rise in customers, net income

Cablevision reports that more people signed up for

Cablevision reports that more people signed up for services and repair calls declined, helping to more than double its profit in the first quarter compared with a year earlier. Photo Credit: Newsday / J. Conrad Williams Jr.

Cablevision Systems Corp. on Thursday reported its profit more than doubled in the first quarter compared with a year earlier as more people signed up for services and repair calls declined.

The Bethpage-based provider of cable television, Internet and telephone services said its net income for the first three months of 2016 was $94 million compared with $44 million a year earlier.

Sales also rose in the first quarter to $1.6 billion, a 2 percent increase year over year.

Chief Executive James L. Dolan said in a statement that the company added more customers in the first quarter than it had in any first quarter since 2012.

He also said the number of calls requiring service technicians to make repairs dropped 33 percent from the first quarter of 2015. Cablevision owns media properties including Newsday, the News 12 Networks and amNewYork.

The earnings report comes weeks before Cablevision expects its acquisition by Altice N.V., a Netherlands-based cable company, to be completed. Cablevision and Altice executives have said they expect the $18 billion deal to close by June 30.

Earlier this week, the Federal Communications Commission approved the transaction.

“We are moving full speed ahead towards the completion of the transaction with Altice and are proceeding through the regulatory process as expected,” Dolan said.

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