AMC Networks reported lower fourth-quarter earnings as an impairment charge more than offset increases in revenue and operating income.
Net income fell to $14 million, or 20 cents a share, from $90 million, or $1.23 a share a year ago.
The company said the fourth-quarter results include the impact of impairment charges of $68 million related to AMCNI-DMC, the company’s Amsterdam-based media logistics facility. Adjusted earnings were $92 million, or $1.30 a share, down from $102 million, or $1.39 a share, a year ago. Adjusted operating income was up 7.9% to $212.7 million.
Revenues rose 7.5% to $730 million in the quarter.
Read more at broadcastingcable.com.
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