Central European Media Enterprises Ltd. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018; Provides Free Cash Flow Guidance for Fiscal 2018
For the nine months, the company reported net revenues of $422,259,000 against $378,058,000 for the same period a year ago. Operating income was $87,753,000 against $72,199,000 for the same period a year ago. Income before tax was $52,546,000 against $30,108,000 for the same period a year ago. Income from continuing operations was $38,319,000 or $0.10 per basic share and $0.09 per diluted share against $17,338,000 or $0.04 per basic share and $0.03 per diluted share for the same period a year ago. Net income attributable to CME Ltd. was $101,862,000 or $0.29 per basic share and $0.27 per diluted share against $9,125,000 or $0.01 per basic share and $0.01 per diluted share for the same period a year ago. Net cash generated from continuing operating activities was $84,934,000 against $90,638,000 for the same period a year ago. Total OIBDA was $119,923,000 against $97,893,000 for the same period a year ago. Capital expenditures, net of proceeds from disposals, were $12,078,000 against $16,250,000 for the same period a year ago. Free cash flow was $72,856,000 against $74,388,000 for the same period a year ago.
Based on the level of anticipated OIBDA growth, the company also expects full year unlevered free cash flow growth to be the high end of the 20% to 25% guidance range at actual rates or around $140 million.