AMC Networks Posts Quarterly Gains

NEW YORK: During the third quarter at AMC Networks net revenues increased 4.6 percent to $284 million, with operating income up 22.8 percent to $94 million.

The gains were led by 3.9-percent growth at the national networks (AMC, WE tv, IFC and Sundance Channel) and a 13.8-percent increase in international and other (including AMC/Sundance Channel Global, IFC Films, AMC Networks Broadcasting & Technology and VOOM HD). At the national networks, advertising revenues in the quarter were essentially flat, primarily due to the absence of Mad Men, which aired on AMC in the prior year period.

Josh Sapan, the president and CEO of AMC Networks, said: "The core of our growth strategy continues to be our investment in original programming. The Walking Dead season two premiere, which was the highest rated dramatic show ever in basic cable history against key adult demos, and our performance in the 2011-2012 upfront, underscores the strength of this strategy. In September, AMC also won a record fourth consecutive Primetime Emmy Award for Outstanding Drama Series for Mad Men. Our programming successes are reflected in solid financial results as we continued to increase net revenues, AOCF and operating income in the third quarter."