Quick Facts
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

Virgin Media Posts Higher Q1 Profit - Quick Facts

4/25/2012 2:22 AM ET

Virgin Media Inc. (VMED: Quote, VMED.L) reported a significant rise in its first-quarter net income to 7.0 million pounds from 3.3 million pounds in the prior-year quarter, chiefly due to higher operating income, increased gain on derivative instruments, reduced amortization expense and reduced interest expense, partially offset by increased loss on extinguishment of debt.

On a per share basis, quarterly earnings were 0.02 pounds per share, higher than 0.01 pounds per share a year earlier.

Revenue was up 2.4% to 1.01 billion pounds from last year's 982.3 million pounds.

Based on the share price as of April 24, 2012, 25% of the company's sharecount in mid-2010 is expected to have been repurchased by the end of 2012, assuming the full board authority is used in 2012. Also, Virgin Media remains on track to achieve its long-term net leverage, Net Debt to OCF6, target of about 3.0x by mid-2013, as announced earlier.

Click here to receive FREE breaking news email alerts for Virgin Media, Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Russian Foreign Minister Sergei Lavrov warned Wednesday that Moscow would retaliate strongly if its "interests" in Ukraine are attacked. He also criticized the Ukrainian administration for relaunching its so-called anti-terrorist operation in the east of the country a day earlier. Lavrov's remarks came in an interview with Russia Today, which published excerpts of the English-language interview to While selling pressure has remained relatively subdued, stocks continue to see modest weakness in mid-day trading on Wednesday. The losses on the day come on the heels of the upward trend seen over the past several sessions. The major averages have moved roughly sideways in recent trading, lingering in the red. While a majority of Kentucky voters approve of the way Rand Paul is handling his job as Senator, the results of New York Times/Kaiser Family Foundation poll showed that voters from the Bluegrass State have a more mixed view on Paul's potential run for president in 2016.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.