AMC Networks Reports Lower Q4 Earnings
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.
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.