AMC Networks Inc. (AMCX) reported net income for the fourth quarter of $29.48 million or $0.41 per share, up from $19.31 million or $0.28 per share for the year-ago quarter.
However, net income from continuing operations declined to $29.27 million or $0.40 per share from $29.91 million or $0.43 per share in the prior-year quarter.
The decrease resulted from an increase in interest expense, partially offset by growth in operating income and a decrease in income tax expense.
Net revenues grew 13.6 percent to $338.96 million from $298.48 million in the year-ago period, led by 12 percent growth at National Networks and a 14.5 percent increase in International and Other.
On average, analysts polled by Thomson Reuters expected the company to earn $0.59 per share for the quarter on revenue of $327.99 million. Analysts' estimates typically exclude special items.
The company was spun off from Cablevision System Corp. (CVC) in June 2011.
by RTT Staff Writer
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