AMCX FY 2013 Earnings Report — AMC Networks Inc. Revenue & Financial Results | Market Cap Arena

AMC Networks Inc.AMCX

FY 2013 Earnings

Reported February 27, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$1.6B	—	$1.4B	—	17.7%
Op. Income	$582M	—	$363M	—	60.4%
Gross Margin	58.4%	—	62.5%	—	-4.1pp
Net Margin	18.3%	—	10.1%	—	8.2pp
EPS (Diluted)	$4.00	—	$1.89	—	111.6%
Free Cash Flow	-$74M	—	$550M	—	-113.4%

Revenue Flow

Item	Amount
REVENUE	$1.6B
Cost of Revenue	$662M
GROSS PROFIT	$930M
R&D Expenses	$0
Selling & Marketing	$151M
General & Administrative	$275M
SG&A Expenses	$426M
Other Expenses	$7M
Operating Expenses	$480M
Cost & Expenses	$1.1B
OPERATING INCOME	$582M
Interest Income	$819.0K
Interest Expense	$116M
Other Income/Expenses	-$113M
INCOME BEFORE TAX	$469M
Income Tax Expense	$179M
Net Income from Continuing Ops	$290M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$291M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$291M
D&A	$552M
EBIT	$585M
EBITDA	$1.1B
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$1.6B
Cost of Revenue	$662M
GROSS PROFIT	$930M
R&D Expenses	$0
Selling & Marketing	$151M
General & Administrative	$275M
SG&A Expenses	$426M
Other Expenses	$7M
Operating Expenses	$480M
Cost & Expenses	$1.1B
OPERATING INCOME	$582M
Interest Income	$819.0K
Interest Expense	$116M
Other Income/Expenses	-$113M
INCOME BEFORE TAX	$469M
Income Tax Expense	$179M
Net Income from Continuing Ops	$290M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$291M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$291M
D&A	$552M
EBIT	$585M
EBITDA	$1.1B
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$290M
Depreciation & Amortization	$552M
Stock-Based Compensation	$20M
Deferred Income Tax	$172M
Other Non-Cash Items	$7M
Change in Working Capital	-$1.1B
OPERATING CASH FLOW	-$49M
Capital Expenditure	-$24M
Acquisitions (Net)	$24M
Purchases of Investments	-$3M
Sales/Maturities of Investments	$657.0K
Other Investing Activities	-$24M
NET CASH FROM INVESTING	-$26M
Net Debt Issuance	-$15M
Common Stock Repurchased	-$12M
Common Dividends Paid	$0
Other Financing Activities	$7M
NET CASH FROM FINANCING	-$20M
FREE CASH FLOW	-$74M
Net Change in Cash	-$89M

Balance Sheet

Item	Amount
Cash & Equivalents	$522M
Short-Term Investments	$0
Net Receivables	$384M
Inventory	$81M
Other Current Assets	$336M
TOTAL CURRENT ASSETS	$1.3B
PP&E (Net)	$71M
Goodwill	$77M
Intangible Assets	$1.1B
Long-Term Investments	$30M
Tax Assets	$16M
Other Non-Current Assets	$75M
TOTAL NON-CURRENT ASSETS	$1.3B
TOTAL ASSETS	$2.6B
Account Payables	$48M
Short-Term Debt	$0
Deferred Revenue	$23M
Other Current Liabilities	$253M
TOTAL CURRENT LIABILITIES	$415M
Long-Term Debt	$2.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$95M
Other Non-Current Liabilities	$528M
TOTAL NON-CURRENT LIABILITIES	$2.8B
TOTAL LIABILITIES	$3.2B
Common Stock	$732.0K
Additional Paid-In Capital	$65M
Retained Earnings	-$603M
Treasury Stock	-$30M
Accum. Other Comp. Income	-$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	-$572M
Minority Interest	$268.0K
TOTAL EQUITY	-$571M
TOTAL LIABILITIES & EQUITY	$2.6B
Total Debt	$2.2B
Net Debt	$1.6B