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AMC Networks Inc (NASDAQ:AMCX) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 10.61%.
AMC Networks Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 48.78% to $0.21 in the quarter versus EPS of $0.41 in the year-earlier quarter.
Revenue: Rose 8.48% to $367.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: reported adjusted EPS income of $0.21 per share. By that measure, the company missed the mean analyst estimate of $0.65. It missed the average revenue estimate of $370.06 million.
Quoting Management: President and Chief Executive Officer Josh Sapan said: “2012 was a successful year for AMC Networks. Our continued strategy of investing in original programming while developing strong brands with consumers resulted in record ratings, most notably for AMC’s ratings juggernaut ‘The Walking Dead.’ We resolved our legal dispute with DISH Network, completed new carriage agreements with a number of leading distributors, and expanded our relationships with key advertisers. All of which, contributed to strong financial results for the full year and gives us confidence that we are well-positioned for continued success in the year ahead.”
Key Stats (on next page)…
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