Thu, Apr. 30, 1:19 PM
- Russian TV company CTC Media (NASDAQ:CTCM) has crumbled, down 15.7%, after a Q1 miss where revenues took a pounding (-57.5%) as the Russian TV ad market contracted some 21%.
- CEO Yuliana Slashcheva cited "headwinds from a dramatically worsening macroeconomic environment, the sharp decline of the Russian advertising market and the loss of Ukrainian sublicensing revenues" as issues for the company.
- The board refrained from declaring a dividend for Q2. The company says there's limited visibility into its 2015, as third-party estimates still have Russian TV ad revenues dropping 22% in Q2 and 20%-25% for the full year.
- It's also deferred most high-quality premieres to the second half in order to reduce expenses.
- Net cash flow from operations was -$3.3M, vs. the prior year's $32.4M.
- Press release
Thu, Apr. 30, 12:45 PM
Mon, Apr. 13, 5:41 PM
- Russia's CTC Media (NASDAQ:CTCM) rose 4.8% in U.S. trading today after launching free movie streaming services on its sites, including Transformers, the Mission: Impossible films and other Western hits
- The news means the firm is offering its viewers access to nearly 50 movies, with 40 more to come by year's end. CTC is pursuing access to 120 Paramount pictures by the end of 2016.
- The company's various channel sites will have different offerings based on each channel's themes.
Thu, Mar. 5, 12:37 PM
- Russian firm CTC Media (NASDAQ:CTCM) is up 7.3% today in the wake of Q4 earnings that beat on a non-GAAP basis and revenues that exceeded expectations despite slipping nearly 30% in dollar terms (flat in ruble terms).
- Adjusted OIBDA of $54.46M beat an expected $52.7M, but at 2.3B rubles was down 34% in ruble terms. For the year, adjusted OIBDA margin was around 30%. Advertising revenues were $176M.
- Target audience share slipped across nearly all channels as smaller niche channels increased competition industrywide. Target audience share for the full year was down to 11.3% from 10.2%.
- Cash and equivalents were $139.4M at year's end compared with $207.5M the prior year.
- CTCM declined to provide outlook due to "very limited visibility into the TV advertising market outlook for 2015" and the challenge of dollar-reported results considering the ruble's precipitous decline..
- Press release
Oct. 3, 2014, 12:45 PM
Sep. 29, 2014, 12:49 PM
Jun. 13, 2013, 10:54 AM
Apr. 18, 2012, 12:05 PM
Mar. 16, 2012, 11:04 AM
Oct. 10, 2011, 9:53 AM
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