This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

AMC Networks Inc. Reports First Quarter 2013 Results

First Quarter 2013 Highlights :

  • Net revenues increased 17.1% to $382 million
  • Operating income increased 31.4% to $127 million
  • AOCF 1 increased 19.5% to $150 million

NEW YORK, May 9, 2013 (GLOBE NEWSWIRE) -- AMC Networks Inc. ("AMC Networks" or the "Company") (Nasdaq:AMCX) today reported financial results for the first quarter ended March 31, 2013.

President and Chief Executive Officer Josh Sapan said: "AMC Networks is off to a strong start in 2013, with double digit increases in net revenues, AOCF and operating income driven by our popular original programming that is resonating with an increasing number of viewers and advertisers. Sundance Channel's two new original scripted shows, Rectify and Top of the Lake, have been met with wide critical and popular acclaim, and Portlandia, which has become IFC's signature show and one of the most unique comedies on television, completed its third season and continues to perform well. WE tv's successful series Braxton Family Values and Mary Mary out-delivered prior year averages, making WE tv a top three women's network on Thursday nights, and at AMC,  The Walking Dead became the number one show for the broadcast season for adults 18-49 for all of television, a first for any cable series, up 55% from the prior season."

First quarter net revenues increased $56 million, or 17.1%, to $382 million over the first quarter of 2012, led by 18.2% growth at National Networks. Adjusted Operating Cash Flow ("AOCF") 1 totaled $150 million, an increase of 19.5% or $24 million versus the prior year period. The AOCF increase resulted from 19.3% growth at National Networks partially offset by a $2 million decline in AOCF at International and Other. Operating income was $127 million, an increase of 31.4% or $30 million versus the prior year period. The operating income increase resulted from 29.5% growth at National Networks partially offset by a $2 million increase in the operating loss at International and Other.

First quarter net income from continuing operations was $62 million ($0.85 per diluted share), compared with $43 million ($0.60 per diluted share) in the first quarter of 2012. The increase resulted primarily from the growth in operating income.

1 of 6

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
SYM TRADE IT LAST %CHG

Markets

DOW 18,096.90 -106.47 -0.58%
S&P 500 2,098.53 -9.25 -0.44%
NASDAQ 4,967.1410 -12.76 -0.26%

Partners Compare Online Brokers

Free Reports

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