Last $62.86 USD
Change Today +0.91 / 1.47%
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As of 12:41 PM 08/20/14 All times are local (Market data is delayed by at least 15 minutes).

amc networks inc-a (AMCX) Key Developments

AMC Networks Mulls Acquisitions

AMC Networks Inc. (NasdaqGS:AMCX) is eyeing further international acquisitions and is focusing on global independent film channels. Josh Sapan, Chief Executive Officer and President of AMC said, "We have looked at small, I guess they could be called tuck-in acquisitions internationally that can add to our international profile. There are some individually owned channels in the sort of broader arts independent film arena around the globe that are still operated by the individuals that started them".

AMC Networks Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

AMC Networks Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenues, net of $522,093,000 compared to $379,322,000 a year ago. Operating income was $129,475,000 compared to $247,324,000 a year ago. Income from continuing operations before income taxes was $96,739,000 compared to $219,581,000 a year ago. Income from continuing operations was $60,180,000 or $0.83 per diluted share compared to $135,731,000 or $1.87 per diluted share a year ago. Net income attributable to the company stockholders was $58,655,000 or $0.81 per diluted share compared to $135,731,000 or $1.87 per diluted share a year ago. Adjusted earnings per diluted share were $0.90 compared to $1.98 a year ago. The decrease in operating income was attributable to the impact of a litigation settlement gain of $133 million in the prior year period. Excluding the impact of the litigation settlement gain, operating income increased 13.2%, or $15 million, compared to the prior year period, consisting of a decrease of 4.4% at National Networks and an increase of $22 million at International and Other. The decrease in net income from continuing operations was resulted from the decline in operating income. For the six months, the company reported revenues, net of $1,046,647,000 compared to $761,283,000 a year ago. Operating income was $277,108,000 compared to $374,808,000 a year ago. Income from continuing operations before income taxes was $207,831,000 compared to $317,747,000 a year ago. Income from continuing operations was $132,167,000 or $1.83 per diluted share compared to $197,248,000 or $2.72 per diluted share a year ago. Net income attributable to the company stockholders was $130,022,000 or $1.80 per diluted share compared to $197,248,000 or $2.72 per diluted share a year ago. Net debt as at June 30, 2014 was $2,496,008,000. Net cash provided by operating activities was $177,451,000 compared to net cash used in operating activities of $140,522,000 a year ago. Capital expenditures were $18,755,000 compared to $13,670,000 a year ago. Adjusted earnings per diluted share were $1.95 compared to $2.93 a year ago. Excluding the litigation settlement gain recorded in the second quarter of 2013, operating income for the six months ended June 30, 2014 increased $35 million, or 14.6%. Excluding the impact of the VOOM HD settlement agreement payments, free cash flow increased $79 million primarily due to the increase in operating performance and a decrease in cash income taxes.

AMC Reportedly In Talks To Acquie BBC America

AMC Networks Inc. (NasdaqGS:AMCX) is in talks to buy a stake in BBC America, BBC Worldwide Limited's U.S. channel, a source familiar with the matter told Reuters. BBC Worldwide would retain a small majority of BBC America if a deal with AMC goes through, the source said. Bloomberg reported that AMC will take a stake of about 50% in BBC America. BBC Worldwide is interested in a partnership to use AMC's advertising sales and distribution network, said Bloomberg, citing people with knowledge of the matter. According to Reuters, the two companies, which have a joint production coming out this week, declined to comment.

AMC Networks Inc. to Report Q2, 2014 Results on Aug 07, 2014

AMC Networks Inc. announced that they will report Q2, 2014 results at 9:00 AM, Eastern Standard Time on Aug 07, 2014

AMC Networks Inc., Q2 2014 Earnings Call, Aug 07, 2014

AMC Networks Inc., Q2 2014 Earnings Call, Aug 07, 2014

 

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