February 26, 2013
Powered by a hit show about the living dead, AMC Networks (NASDAQ: AMCX ) has reported higher revenue for Q4 and fiscal 2012. For the former, the broadcaster's net revenues came in at $367 million, an 8% year-over-year improvement. Net income from continuing operations, however, was $15 million ($0.21 per diluted share), a 35% decline from the $29 million ($0.40) recorded in the same period the previous year.
Much of the top-line improvement was due to a 16% rise in ad revenues over that time frame. This, in turn, was fueled by the increasing popularity of the company's hit show, the apocalyptic zombie drama The Walking Dead.
On the other hand, the lower net was affected primarily by almost $11 million in debt servicing. AMC Networks was also hit by a dispute over fees with satellite broadcaster DISH Network.
Net revenues for fiscal 2012 totaled $1.4 billion, a 14% increase over 2011's result. Net income from continuing operations amounted to $136 million ($1.89 diluted EPS), or 8% above the previous year's $126 million ($1.79).