Last $6.19 USD
Change Today +0.38 / 6.54%
Volume 1.6M
CTCM On Other Exchanges
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As of 4:30 PM 10/21/14 All times are local (Market data is delayed by at least 15 minutes).

ctc media inc (CTCM) Key Developments

CTC Media, Inc Announces Executive Changes

Lorenzo Grabau, a member and Co-Chairman of the Board of Directors of CTC Media, Inc, tendered his resignation from the Board on September 24, 2014, effective immediately. The Board has elected J rgen Madsen Lindemann, a current member of the Board, to serve as Co-Chairman of the Board. The Board has also appointed Mathias Hermansson as a Class III director to fill the vacancy created by the resignation of Mr. Grabau, and to serve out the remainder of his term ending at the annual meeting of stockholders in 2015.

Equinox Partners Reportedly Interested In Russian Assets

Equinox Partners, L.P. is interested in Russian assets, and Sean Fieler, Chief Financial Officer of Equinox Partners, and Yevgeny Ruzhitsky, Financial Analyst, are consulting with local publically traded companies and banks, reported Vedomosti citing a person close to executive of the fund and a representative of one of the companies in negotiations. Sources said that Representatives of Sberbank (MICEX:SBER), Open Joint Stock Company - Magnit (MICEX:MGNT), Yandex N.V. (NasdaqGS:YNDX), Open Joint Stock Company Moscow Exchange MICEX-RTS (MICEX:MOEX), CTC Media, Inc (NasdaqGS:CTCM) and OJSC "Bank Saint Petersburg" (MICEX:BSPB) met Equinox.

CTC Media, Inc Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Full Year of 2014

CTC Media Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total operating revenues of $206,015,000 against $184,312,000 a year ago. Operating income was $49,395,000 against $38,620,000 a year ago. Income before income tax was $53,045,000 against $40,957,000 a year ago. Net income attributable to parent company was $31,593,000 against $26,661,000 a year ago. Diluted earnings per share were $0.20 against $0.17 a year ago. For the six months, the company reported total operating revenues of $401,302,000 against $370,559,000 a year ago. Operating income was $91,579 against $86,759,000 a year ago. Income before income tax was $98,738,000 against $86,871,000 a year ago. Net income attributable to parent company was $60,181,000 against $57,877,000 a year ago. Diluted earnings per share were $0.38 against $0.37 a year ago. The company provides earnings guidance for the full year of 2014. The company expects capital expenditure of up to $10 million and anticipated effective tax rate in the range of 30% to 35%.

CTC Media, Inc Declares Cash Dividends, Payable on or About September 26, 2014

The CTC Media board of directors currently intends to pay cash dividends of $0.70 per share (or up to approximately $109 million in the aggregate) in 2014, a year-on-year increase of 11% compared to cash dividends of $0.63 per share (or $98.8 million in the aggregate) paid in 2013. The company has declared a cash dividend of $0.175 per share (or approximately $27 million in the aggregate) to be paid on or about September 26, 2014 to shareholders of record as of September 5, 2014.

CTC Media, Inc, Q2 2014 Earnings Call, Jul 31, 2014

CTC Media, Inc, Q2 2014 Earnings Call, Jul 31, 2014

 

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TEV/Sales 0.9x
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