This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Central European Media Enterprises Reports Results For The Fourth Quarter And Full Year Ended December 31, 2010

Full Year Net Income attributable to CME of US$ 100.2 million FOURTH QUARTER Net Revenues of US$ 257.4 million OIBDA of US$ 64.8 million FULL YEAR Net Revenues of US$ 737.1 million OIBDA of US$ 107.3 million

HAMILTON, Bermuda, Feb. 23, 2011 (GLOBE NEWSWIRE) -- Central European Media Enterprises Ltd. ("CME" or the "Company") (Nasdaq:CETV) (Prague Stock Exchange:CETV) today announced financial results for the three months and full year ended December 31, 2010.

Net revenues for the fourth quarter of 2010 increased US$ 23.0 million to US$ 257.4 million, compared to the fourth quarter of 2009. OIBDA¹ for the quarter increased US$ 20.4 million to US$ 64.8 million. Operating income for the quarter increased US$ 17.6 million to US$ 41.9 million. Net loss attributable to the shareholders of CME for the quarter was US$ 26.1 million compared to a loss of US$ 55.3 million for the fourth quarter 2009. Fully diluted loss per share for the quarter improved US$ 0.48 to US$ (0.41). Results for the fourth quarter of 2010 include the Media Pro Entertainment and bTV businesses acquired by CME in December 2009 and April 2010, respectively, and exclude CME's former Ukraine operations which were disposed of in April 2010.

Net revenues for the full year ended December 31, 2010 were US$ 737.1 million and OIBDA was US$ 107.3 million. Operating income for the full year was US$ 22.9 million. Net income attributable to the shareholders of CME for the full year was US$ 100.2 million, and fully diluted income per share was US$ 1.57.

Adrian Sarbu, President and Chief Executive Officer of CME, commented: "In the fourth quarter our sales and OIBDA increased as a result of the restructuring of our broadcasting business and the start of recovery in certain markets. 2010 was our first year of operating as a fully vertically integrated media company. We now run six leading broadcast operations, an integrated content division, Media Pro Entertainment, and a rapidly growing New Media segment. In 2011 we expect all our markets to recover. Our priority is to deliver growth in revenues, OIBDA and free cash flow."

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.66 -0.55%
FB $117.81 0.32%
GOOG $694.90 0.37%
TSLA $231.99 -0.14%
YHOO $35.95 -0.17%


Chart of I:DJI
DOW 17,712.69 -38.22 -0.22%
S&P 500 2,055.19 -8.18 -0.40%
NASDAQ 4,746.5220 -16.7020 -0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs