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
TheStreet Open House

AMC Networks Inc. Reports Second Quarter 2012 Results

Second Quarter 2012 Highlights :

  • Net revenues increased 12.2% to $328 million
  • Operating income increased 19.4% to $98 million
  • AOCF 1 increased 13.6% to $127 million

NEW YORK, Aug. 9, 2012 (GLOBE NEWSWIRE) -- AMC Networks Inc. ("AMC Networks" or the "Company") (Nasdaq:AMCX) today reported financial results for the second quarter ended June 30, 2012.

President and Chief Executive Officer Josh Sapan said: "In the second quarter, AMC Networks delivered solid financial results with double-digit percentage increases in net revenues, AOCF and operating income. The results were driven by continued advertiser demand and renewals with distributors, most recently AT&T, with whom we reached a new, long-term agreement. Last month, the Company received 36 Emmy Award nominations, more than any other basic cable television group. This critical reception helps drive the growth of our business and our financial performance. As has been widely reported, DISH Network dropped our networks to gain leverage in an unrelated lawsuit. The trial is scheduled to begin September 18 in New York State Supreme Court."

Second quarter net revenues increased $36 million, or 12.2%, to $328 million over the second quarter of 2011, led by 14.4% growth at National Networks which more than offset a decline of $4 million in International and Other. Adjusted Operating Cash Flow ("AOCF") 1 totaled $127 million, an increase of 13.6% or $15 million versus the prior year period. The AOCF increase resulted from 16.0% growth at National Networks partially offset by a $5 million decline in AOCF at International and Other. Operating income was $98 million, an increase of 19.4% or $16 million versus the prior year period. The operating income increase resulted from 21.6% growth at National Networks partially offset by a $5 million increase in the operating loss at International and Other.

For the six months ended June 30, 2012, net revenues increased $89 million, or 15.7%, to $654 million, AOCF increased $41 million, or 19.5%, to $253 million, and operating income increased $42 million, or 27.7%, to $195 million, all compared to the prior year period.

1 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,172.68 -107.06 -0.62%
S&P 500 1,994.29 -16.11 -0.80%
NASDAQ 4,527.6890 -52.10 -1.14%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs