MOSCOW, May 2, 2013 (GLOBE NEWSWIRE) -- CTC Media, Inc. ("CTC Media" or "the Company") (Nasdaq:CTCM), Russia's leading independent media company, today announced its unaudited consolidated financial results for the first quarter ended March 31, 2013.
|Ended March 31,|
|(US$ mln except per share data)||2012||2013||in USD||in RUB|
|Total operating revenues||$191.1||$195.3||2%||4%|
|Total operating expenses||(141.1)||(153.1)||8%||10%|
|OIBDA margin 1||28.8%||25.9%|
|Net income attributable to CTC Media, Inc. stockholders||32.6||28.6||-12%||-11%|
|Diluted earnings per share||$0.21||$0.18||-14%|
- Total revenues up 4% year-on-year in ruble terms to $195.3 million
- Russian advertising revenues up 7% year-on-year in ruble terms
- OIBDA of $50.6 million, with an OIBDA margin of 25.9%
- Fully diluted earnings per share of $0.18 (Q1 2012: $0.21)
- Net cash position 2 of $137.9 million at the end of the period
- Payment of cash dividends of $0.15 per share
- Board of Directors currently intends to pay aggregate cash dividends of approximately $0.63 per share in 2013 and has declared a cash dividend of $0.16 per share (or approximately $25 million in the aggregate) to be paid on or about June 26, 2013 to shareholders of record as of June 3, 2013, with further dividends anticipated in the remaining quarters of 2013
- Combined Russian national inventory was fully sold-out for Q1 and is approximately 90% contracted for the full year
- CTC Media signed digital distribution agreements with Russian Television and Radio Network (RTRS) for CTC and Domashny channels, with digital broadcasting fees payable to RTRS in 2013 of approximately $3 million per channel
- Lorenzo Grabau appointed as a new member and Co-Chairman of CTC Media's Board of Directors and Jørgen Madsen Lindemann elected as a new member of CTC Media's Board of Directors effective April 30, 2013 (both have been designated by Modern Times Group MTG AB, CTC Media's largest stockholder)
- 2013 Equity Incentive Plan approved by annual general meeting of stockholders
- CTC Media to launch in the current quarter a stock repurchase program to acquire up to 2.5 million shares of common stock, for use under the Company's 2013 Equity Incentive Plan
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
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.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
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.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV