Mediacom Broadband 8-K Mediacom Broadband LLC Reports

Exhibit 99.1

For Immediate Release

Mediacom Broadband LLC Reports

Results for First Quarter 2017

Mediacom Park, NY – May 3, 2017 – MEDIACOM BROADBAND LLC, a wholly-owned subsidiary of Mediacom Communications Corporation, today reported unaudited financial and operating highlights for the three months ended March 31, 2017.

Mediacom Broadband LLC Results for First Quarter 2017*

• Revenues were $261.5 million, reflecting a 2.5% increase from the prior year period

• Operating income was $62.7 million, reflecting a 0.6% decrease from the prior year period

• Operating income before depreciation and amortization (“OIBDA”) was $99.3 million, reflecting a 0.9% increase from the prior year period

• Net cash flows provided by operating activities were $81.1 million, compared to $94.4 million in the prior year period

• Free cash flow of $32.0 million, compared to $32.5 million in the prior year period

About Mediacom

Mediacom Communications Corporation is the 5th largest cable operator in the U.S. serving almost 1.4 million customers in smaller markets primarily in the Midwest and Southeast. Mediacom offers a wide array of information, communications and entertainment services to households and businesses, including video, high-speed data, phone, and home security and automation. Through Mediacom Business, the company provides innovative broadband solutions to commercial and public sector customers of all sizes, and sells advertising and production services under the OnMedia brand. More information about Mediacom is available atwww.mediacomcable.com.

Contacts:
Investor Relations	Media Relations
Jack P. Griffin	Thomas J. Larsen
Vice President,             Corporate Finance	Senior Vice President,         Government and Public Relations
(845) 443-2654	(845) 443-2754

* OIBDA and free cash flow are defined under “Use of Non-GAAP Financial Measures” in Table 4 and are reconciled to operating income and net cash flows provided by operating activities, respectively, in Table 2.

TABLE 1*

Mediacom Broadband LLC

Selected Financial and Operating Data

(Dollars in thousands, except per unit data)

(Unaudited)

	Three Months Ended March 31,
	2017			2016			YoY% Change
Video	$	111,304		$	112,702			(1.2%)
High-speed data		89,532			80,037			11.9%
Phone		14,265			14,562			(2.0%)
Business services		36,670			34,034			7.7%
Advertising		9,737			13,883			(29.9%)
Total revenues	$	261,508		$	255,218			2.5%
Service costs		(109,062	)		(104,475	)		4.4%
SG&A expenses		(47,517	)		(46,968	)		1.2%
Management fees		(5,650	)		(5,350	)		5.6%
OIBDA(a)	$	99,279		$	98,425			0.9%
Cash interest expense(a)		(16,737	)		(19,079	)		(12.3%)
Capital expenditures		(46,037	)		(42,345	)		8.7%
Dividend to preferred members		(4,500	)		(4,500	)		—
Free cash flow(a)	$	32,005		$	32,501			(1.5%)
OIBDA margin(b)		38.0	%		38.6	%
	March 31, 2017			March 31, 2016			YoY% Change
Video customers		461,000			479,000			(3.8%)
High-speed data (“HSD”) customers		652,000			621,000			5.0%
Phone customers		273,000			245,000			11.4%
Primary service units (“PSUs”)		1,386,000			1,345,000			3.0%
Video customer declines		(2,000	)		(1,000	)
HSD customer increases		9,000			16,000
Phone customer increases		9,000			6,000
Quarterly PSU increases		16,000			21,000
Customer relationships(c)		757,000			740,000			2.3%
Average total monthly revenue per:
PSU(d)	$	63.26		$	63.75			(0.8%)
Customer relationship(e)	$	115.38		$	115.59			(0.2%)
	March 31, 2017			March 31, 2016
Bank credit facility	$	1,091,000		$	1,280,000
5 1⁄2% senior notes due 2021		200,000			200,000
6 3⁄8% senior notes due 2023		300,000			300,000
Total debt(f)	$	1,591,000		$	1,780,000
Total leverage ratio(g)		4.01x			4.52x
Interest coverage ratio(h)		5.93x			5.16x

* See Table 2 for reconciliations of OIBDA to operating income, cash interest expense to interest expense, net, and free cash flow to net cash flows from operating activities. See Table 3 for details of capital expenditures. See footnotes on Page 4, which contain important disclosures regarding the definitions used for selected unaudited financial and operating data.

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TABLE 2

Mediacom Broadband LLC

Reconciliation of Non-GAAP Measures

(Dollars in thousands)

(Unaudited)

	Three Months Ended March 31,
	2017			2016
Free cash flow	$	32,005		$	32,501
Capital expenditures		46,037			42,345
Dividend to preferred members		4,500			4,500
Other expense, net		(318	)		(469	)
Changes in assets and liabilities, net		(1,153	)		15,526
Net cash flows provided by operating activities	$	81,071		$	94,403
OIBDA	$	99,279		$	98,425
Depreciation and amortization		(36,579	)		(35,328	)
Operating income	$	62,700		$	63,097
Cash interest expense	$	16,737		$	19,079
Amortization of deferred financing costs		1,056			1,588
Interest expense, net	$	17,793		$	20,667

TABLE 3

Mediacom Broadband LLC

Capital Expenditures

(Dollars in thousands)

(Unaudited)

	Three Months Ended March 31,
	2017		2016
Customer premise equipment	$	20,036	$	19,347
Enterprise networks		2,096		1,959
Scalable infrastructure		10,998		9,547
Line extensions		2,582		2,552
Upgrade / rebuild		7,043		5,810
Support capital		3,282		3,130
Total capital expenditures	$	46,037	$	42,345

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TABLE 4

Use of Non-GAAP Financial Measures

“OIBDA,” “cash interest expense” and “free cash flow” are not financial measures calculated in accordance with generally accepted accounting principles (“GAAP”) in the United States. We define OIBDA as operating income before depreciation and amortization. We define cash interest expense as interest expense, net, less amortization of deferred financing costs. We define free cash flow as OIBDA less capital expenditures, cash interest expense and dividends to preferred members.

OIBDA is one of the primary measures used by management to evaluate our performance and to forecast future results. We believe OIBDA is useful for investors because it enables them to assess our performance in a manner similar to the methods used by management, and provide measures that can be used to analyze our value and evaluate our performance compared to other companies in the cable industry. A limitation of OIBDA, however, is that it excludes depreciation and amortization, which represents the periodic costs of certain capitalized tangible and intangible assets used in generating revenues in our business. Management utilizes a separate process to budget, measure and evaluate capital expenditures. OIBDA might not be comparable to similarly titled measures used by other companies, which may have different depreciation and amortization policies, and are key components in our covenant calculations.

Free cash flow is used by management to evaluate our ability to repay debt and facilitate the growth of our business with internally generated funds. A limitation of free cash flow, however, is that it may be affected by the timing of our capital spending. We believe free cash flow is useful for investors as it provides an additional measure that can be used to analyze our value and evaluate our performance compared to other companies in the cable industry. Free cash flow may not be comparable to similarly titled measures reported by other companies.

OIBDA and free cash flow should not be regarded as alternatives to operating income or net income as indicators of operating performance, or to the statement of cash flows as measures of liquidity, nor should they be considered in isolation or as substitutes for financial measures prepared in accordance with GAAP. We believe that operating income is the most directly comparable GAAP financial measure to OIBDA and that net cash flows provided by operating activities is the most directly comparable GAAP financial measure to free cash flow.

Cash interest expense excludes the amortization of financing costs which were paid upon the financing of the relevant debt. We believe cash interest expense is useful for investors because it enables them to assess our cost of debt for the current period without including the amortization of financing costs that were previously paid. We believe interest expense, net, is the most directly comparable GAAP financial measure to cash interest expense.

For reconciliations of OIBDA, cash interest expense and free cash flow to their most directly comparable GAAP financial measures, see Table 2.

FOOTNOTES:

^(a)  See Table 2 for information about our use of Non-GAAP financial measures.

^(b)  Represents OIBDA as a percentage of total revenues.

^(c)  Represents the total number of customers that receive at least one service, without regard to which service(s) customers purchase.

^(d)  Represents average total monthly revenues for the quarter divided by average PSUs for such quarter.

^(e)  Represents average total monthly revenues for the quarter divided by average customer relationships for such quarter.

^(f)  Total debt excludes the effect of deferred financing costs, net.

^(g)  Represents total debt at quarter end divided by annualized OIBDA for the quarter.

^(h)  Represents OIBDA divided by cash interest expense for the quarter.

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