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Central European Media Enterprises Ltd. Reports Results For The Full Year And Fourth Quarter Ended December 31, 2012

We make available free of charge on our website at www.cme.net our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and amendments to those reports as soon as reasonably practicable after we electronically file such material with, or furnish it to, the Securities and Exchange Commission.

CME is a media and entertainment company operating leading businesses in six Central and Eastern European markets with an aggregate population of approximately 50 million people. CME's broadcast operations are located in Bulgaria (bTV, bTV Cinema, bTV Comedy, bTV Action, bTV Lady and Ring.bg), Croatia (Nova TV, Doma and Nova World), the Czech Republic (TV Nova, Nova Cinema, Nova Sport, Fanda, Smichov, Telka and MTV Czech), Romania (PRO TV, PRO TV International, Acasa, Acasa Gold, PRO Cinema, Sport.ro, MTV Romania and PRO TV Chisinau Moldova), the Slovak Republic (TV Markiza, Doma, Dajto and Fooor), and Slovenia (POP TV, Kanal A and the POP NON STOP subscription package). CME also operates Voyo, the pan-regional video-on-demand service. CME is traded on the NASDAQ Global Select Market and the Prague Stock Exchange under the ticker symbol "CETV".

CENTRAL EUROPEAN MEDIA ENTERPRISES LTD.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(US$ 000's, except per share data)
   
  For the Year Ended
  December 31,
  2012 2011
Net revenues $ 772,085 $ 864,782
Operating expenses:    
Operating costs 175,172 182,046
Cost of programming 377,983 399,774
Depreciation of property, plant and equipment 41,732 52,954
Amortization of broadcast licenses and other intangibles 46,627 34,881
Cost of revenues 641,514 669,655
Selling, general and administrative expenses 96,274 119,587
Impairment charge 522,490 68,748
Operating (loss) / income (488,193) 6,792
Interest expense, net (127,189) (158,704)
Foreign currency exchange gain / (loss), net 4,922 (31,124)
Change in fair value of derivatives 49,027 7,281
Other income 901 1
Loss before tax (560,532) (175,754)
Credit / (provision) for income taxes 14,139 (3,850)
Net loss (546,393)    (179,604)
Net loss attributable to noncontrolling interests 10,713 4,993
Net loss attributable to CME Ltd. $ (535,680) $ (174,611)
     
PER SHARE DATA:    
Net loss per share    
Net loss per share - Basic and diluted $ (6.96) $ (2.71)
     
Weighted average common shares used in computing per share amounts (000's):    
Basic and diluted 76,919 64,385

 

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