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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

CTC Media Financial Results For The Second Quarter And Six Months Ended June 30, 2013

Stocks in this article: CTCM

MOSCOW, Aug. 6, 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 second quarter and six months ended June 30, 2013.

  Three Months  
  Ended June 30,  Change 
(US$ mln except per share data) 2012 2013 in USD in RUB
         
Total operating revenues $187,584 $206,015 10% 13%
Total operating expenses (138,462) (156,620) 13% 16%
OIBDA 1 54,105 57,753 7% 9%
OIBDA margin 1 28.8% 28.0%    
Net income attributable to CTC Media, Inc. stockholders 34,046 31,593 -7% -4%
Diluted earnings per share  $0.22 $0.20 -9%  
         
  Six Months  
  Ended June 30,    Change
(US$ mln except per share data) 2012 2013 in USD in RUB
         
Total operating revenues $378,704 $401,302 6% 8%
Total operating expenses (279,611) (309,723) 11% 13%
OIBDA 1 109,233 108,402 -1% --
OIBDA margin 1 28.8% 27.0%    
Net income attributable to CTC Media, Inc. stockholders 66,668 60,181 -10% -7%
Diluted earnings per share  $0.42 $0.38 -10%  

Q2 FINANCIAL HIGHLIGHTS

  • Total revenues up 13% year-on-year in ruble terms to $206.0 million
  • OIBDA of $57.8 million, with an OIBDA margin of 28.0%
  • Fully diluted earnings per share of $0.20 (Q2 2012: $0.22)
  • Net cash position 2 of $142.4 million at the end of the period
  • Payment of cash dividends of $0.16 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 September 27, 2013 to shareholders of record as of September 2, 2013, with further dividends anticipated in the fourth quarter of 2013

OPERATING HIGHLIGHTS

  • Appointment of Yuliana Slashcheva as Chief Executive Officer as of August 1
  • Combined Russian national inventory was fully sold-out for Q2 and is approximately 95% committed for the full year
  • CTC Media repurchased 1.98 million shares of common stock as of July 31, 2013 as part of the previously announced 2.5 million share repurchase program for use under the Company's 2013 Equity Incentive Plan
  • Launch of an innovative touch-free motion activated cooking app under the Domashny brand

Yuliana Slashcheva, Chief Executive Officer of CTC Media, commented, "I am delighted to be joining CTC Media at this dynamic time for the TV business. The CTC Media team delivered a strong second quarter, with the Russian channels posting year-on-year audience share growth both in prime time and off prime, maintaining the second place among television holdings in the target demographic of everyone aged between 10 and 45.

1 of 11

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!

Markets

DOW 17,888.10 +83.30 0.47%
S&P 500 2,070.45 -0.20 -0.01%
NASDAQ 4,768.4630 +3.0830 0.06%

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