This Day On The Street
Continue to site
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

AMC Networks Inc. Reports Second Quarter 2013 Results

Second Quarter 2013 Highlights :
  • Net revenues increased 15.8% to $379 million
  • Operating income increased 151.7% to $247 million
  • AOCF 1 increased 8.7% to $138 million

NEW YORK, Aug. 8, 2013 (GLOBE NEWSWIRE) -- AMC Networks Inc. ("AMC Networks" or the "Company") (Nasdaq:AMCX) today reported financial results for the second quarter ended June 30, 2013.

President and Chief Executive Officer Josh Sapan said: "In the second quarter, our successful original content drove our overall financial results, with a 16% increase in net revenues and a 9% increase in AOCF. Our original programming continues to fuel the performance of our networks and underpin the Company's growth, with last month's 39 Emmy Award nominations for AMC, IFC and Sundance Channel, the most nominations of any basic cable programming group, contributing to our momentum."

Second quarter net revenues increased $52 million, or 15.8%, to $379 million over the second quarter of 2012, led by 15.9% growth at National Networks and a 13.9% increase at International and Other. Adjusted Operating Cash Flow ("AOCF") 1 totaled $138 million, an increase of 8.7% or $11 million versus the prior year period. National Networks AOCF increased 7.8% and International and Other AOCF improved $1 million versus the prior year period. Operating income was $247 million, an increase of 151.7% or $149 million versus the prior year period. As discussed in the "Other Matters" section of this release, operating income included a litigation settlement gain of $133 million. Excluding the impact of the litigation settlement gain, operating income increased 14.6% at National Networks and was essentially flat at International and Other.

For the six months ended June 30, 2013, net revenues increased $107 million, or 16.4%, to $761 million, AOCF increased $36 million, or 14.1%, to $288 million, and operating income increased $179 million, or 91.9%, to $375 million. Excluding the litigation settlement gain recorded in the second quarter of 2013, operating income for the six months ended June 30, 2013 increased $47 million, or 23.8%, to $242 million.

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
Only $9.95
14-Days Free
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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $92.69 -0.59%
FB $119.49 1.40%
GOOG $711.11 1.40%
TSLA $214.84 1.60%
YHOO $37.23 0.79%


Chart of I:DJI
DOW 17,740.63 +79.92 0.45%
S&P 500 2,057.14 +6.51 0.32%
NASDAQ 4,736.1550 +19.0610 0.40%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs