logo
  

AMC Networks Q3 Net Income Declines Despite Rise In Revenues - Quick Facts

AMC Networks Inc. (AMCX) Thursday released the financial results for the third quarter ended 30 September 2012, reporting that net income in the third quarter was $36.64 million, or $0.51 per diluted share slightly lower than net income of $40.00 million, or $0.55 per diluted share, reported for the corresponding quarter last year.

On average, 12 analysts polled by Thomson Reuters expected earnings of $0.37 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenues for the third quarter increased to $332.05 million from $283.91 million in the corresponding quarter last year. . Analysts expected revenues of $288.46 million for the quarter.

President and Chief Executive Officer Josh Sapan said: "We've enjoyed a long relationship with DISH Network and are delighted to partner with them again in bringing our channels and programming to their subscribers. While the litigation and associated carriage dispute impacted our third quarter financials, that issue is behind us and we are fully focused on continuing our strategy of investing in quality original programming. We continue to see very healthy demand for our popular programming from advertisers and viewers alike......"

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Health insurer Humana Inc. reported Wednesday a net loss for the fourth quarter that slightly widened from last year, hurt primarily by charges associated with productivity initiatives, despite 6.6 percent revenue growth. Adjusted earnings for the quarter topped analysts' expectations, while quarterly revenues missed it by a whisker. South Plainfield, New Jersey-based Two Rivers Coffee is recalling its peanut butter single serve hot chocolate pods citing an undeclared peanut allergen, the U.S. Food Drug Administration said. The recall involves peanut butter single serve hot chocolate pods distributed as "Brooklyn Bean Peanut Butter Cup Hot Cocoa", "Pingo Peanut Butter Cookie Hot Chocolate" and ... Shares of Novartis AG were losing around 2 percent in the early morning trading in Switzerland after the drug major reported Wednesday sharply lower profit in its fourth quarter with weak sales as well as the absence of prior year's hefty Roche income. Adjusted earnings, however, topped market estimates, while top line missed their view. Further, the company announced higher dividend...
RELATED NEWS
Follow RTT