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TBS REPORTS THIRD QUARTER EARNINGS

 ATLANTA, Nov. 10 /PRNewswire/ -- Turner Broadcasting System, Inc. (AMEX: TBS), today reported results for the three months ended Sept. 30 that included consolidated revenue of $501 million, a 10 percent increase over the comparable period in 1992, and consolidated operating profit of $60 million, a 6 percent decrease from 1992.
 Net income was $1 million, a decrease of $11 million compared to the same period in 1992. Net income included a $6 million extraordinary charge, net of tax benefits, for early termination of a portion of the company's bank credit facilities and the redemption of its convertible debt due 2004.
 The three and nine months results (in millions, except per share amounts) were as follows:
 (Unaudited) (Unaudited)
 3 mos. ended 9 mos. ended
 9/30/93 9/30/92 9/30/93 9/30/92
 Revenue $ 501 $ 456 $ 1,387 $ 1,231
 Operating profit(a) 60 64 237 205
 Income before provision
 for income taxes, extraord.
 items and the cumulative
 effect of a change in
 acctng. principle 12 17 99 61
 Income before the cumulative
 effect of a change in
 acctng. principle 1 12 52 48
 Cumulative effect of a
 change in acctng.
 principle(b) --- --- (306) ---
 Net income (loss) 1 12 (254) 48
 Earnings per common share
 and common share equivalent
 income before extraord.
 items and cumulative effect
 of a change in acctng.
 principle $ 0.02 $ 0.02 $ 0.22 $ 0.09
 Net income (loss) $ 0.00 $ 0.05 $ (0.96) $ 0.19
 (a) Operating profit is defined as income before interest expense,
 interest income, income taxes, extraordinary items and the
 cumulative effect of a change in accounting for income taxes.
 (b) The cumulative effect of adopting Statement of Financial
 Accounting Standards No. 109 ("FAS 109") was a non-recurring
 charge to the 1993 Consolidated Statement of Operations of $306
 million. This charge primarily related to the 1986 acquisition
 of the TEC Film Library and, to a lesser degree, the company's
 50 percent interest in Hanna-Barbera Entertainment Co., Inc.
 In both transactions there were substantial differences between
 amounts recorded for financial reporting purposes and for
 income tax purposes.
 "Our core business performed relatively well during the third quarter with advertising revenue up 11 percent," said R.E. Turner, TBS president and chairman of the board. "The decrease in profitability is primarily related to investment in new businesses, particularly overseas. The impact of this sort of investment is consistent with our past philosophy of sustaining operating losses in the near-term in order to create a valued asset in the long-term."
 COMPARISON OF THIRD QUARTER 1993 TO THIRD QUARTER 1992
 ENTERTAINMENT SEGMENT
 Entertainment Segment revenue advanced $24 million, or 11 percent, primarily due to a $13 million increase in advertising revenue reflecting an increase in the amount charged per thousand viewing homes on TBS SuperStation. TNT subscription revenue rose $10 million primarily due to an increase in the monthly amount charged per home.
 Operating profit for the segment was $46 million, 6 percent higher than in 1992. Revenue increases were offset by higher sports programming costs, increased sales and marketing expenses, and the inclusion of the Cartoon Network, which launched in October 1992, and TNT & Cartoon Network Europe, which launched Sept. 17, 1993. The combined effect of these new networks increased operating costs $7 million.
 NEWS SEGMENT
 Revenue for the News Segment rose $13 million, or 10 percent. Advertising revenue advanced 9 percent to $69 million primarily reflecting an increase in the amount charged per thousand viewing homes domestically. Subscription revenue was up 14 percent to $57 million largely due to an increase in the monthly amount charged for CNN and a higher number of subscribers.
 Operating expenses and selling, general and administrative expenses were held to a 6 percent, or $5 million increase, resulting in operating profit rising 22 percent, or $8 million, for the News Segment.
 SYNDICATION AND LICENSING SEGMENT
 With revenue level with the prior period at $59 million, the Syndication and Licensing Segment posted an operating loss of $10 million compared with a $4 million loss in the third quarter of 1992. The increase in operating loss was due to slight increases in various operating expenses, the largest of which was an increase in participation and residual expenses associated with the TEC film library.
 SPORTS SEGMENT
 Sports Segment revenue rose 16 percent to $37 million due to increases in Braves' ticket and broadcasting revenues. The revenue increases were partially offset by higher player salaries, resulting in a $2 million increase in the Sports Segment operating profit.
 EQUITY IN EARNINGS OF UNCONSOLIDATED ENTITIES
 Equity in earnings of unconsolidated entities decreased $13 million, primarily due to losses incurred by n-tv, a 24-hour German news service in which the company acquired a 27.5 percent interest in March 1993.
 TURNER BROADCASTING SYSTEM INC.
 Penetration of Services
 As of Sept. As of Dec.
 1993(a) 1992(a) 1991(a)
 Entertainment Segment
 (d)TBS SuperStation
 Homes (000s) 60,700 60,000 57,500
 Percent of U.S. TV households 64 64 62
 (d)TNT
 Homes (000s) 59,700 58,300 55,600
 Percent of U.S. TV households 63 63 60
 (d)Cartoon Network(b)
 Homes (000s) 6,600 --- ---
 Percent of U.S. TV households 7 --- ---
 News Segment
 (d)CNN
 Homes (000s) 61,800 61,200 58,900
 Percent of U.S. TV households 66 66 64
 (d)Headline News
 Homes (000s) 52,400 51,400 48,200
 Percent of U.S. TV households 56 55 52
 (e)CNN International
 Homes (000s) 43,100 34,700(c) 15,500
 (a) Measured as of the respective rating periods indicated.
 (b) The Cartoon Network was launched in October of 1992. A.C.
 Nielsen data was not available for the December 1992 ratings
 period.
 (c) Includes CNN International's switch to the European Astra 1B
 satellite in April 1992 which added approximately 8 million
 homes to the network's base.
 (d) Source: Information derived by the company from A.C. Nielsen
 data.
 (e) Source: Turner International Inc. Represents all homes that
 receive CNN International 24 hours a day via cable or
 satellite. An additional 28 million homes receive CNN
 International at least five hours per day as of
 December 1992 and September 1993.
 TURNER BROADCASTING SYSTEM, INC.
 Industry Segment Financial Information
 Unaudited Unaudited
 Three months ended Nine months ended
 9/30/93 9/30/92(a) 9/30/93 9/30/92(a)
 In thousands
 Revenue
 Entertainment $253,807 $229,519 $679,433 $601,947
 News 139,916 126,904 437,688 386,339
 Syndication and
 Licensing 59,186 59,082 158,813 150,022
 Sports 36,607 31,508 72,552 61,003
 Other 11,773 9,384 38,088 32,125
 Total $501,289 $456,397 $1,386,574 $1,231,436
 Operating profit
 (loss)(b)
 Entertainment $46,333 $43,587 $162,167 $120,480
 News 44,627 36,444 150,728 124,569
 Syndication and
 Licensing (9,608) (3,901) (26,916) (11,414)
 Sports 2,536 734 (376) (2,876)
 Other (11,195) (12,987) (31,796) (26,098)
 Equity in income (loss)
 of unconsolidated
 entities (12,745) 228 (16,442) 43
 Operating profit 59,948 64,105 237,365 204,704
 Interest expense, net 48,271 46,906 138,205 143,644
 Income before provision
 for income taxes,
 extraordinary items and
 the cumulative effect of
 a change in accounting
 principle 11,677 17,199 99,160 61,060
 Provision for income
 taxes 4,523 12,080 40,800 37,667
 Income before extra-
 ordinary items and the
 cumulative effect of a
 change in accounting
 principle 7,154 5,119 58,360 23,393
 Extraordinary items(c) (6,136) 7,380 (6,136) 24,530
 Income before the
 cumulative effect of a
 change in accounting
 principle 1,018 12,499 52,224 47,923
 Cumulative effect of a
 change in accounting
 principle(d) --- --- (306,000) ---
 Net income (loss) $ 1,018 $12,499 ($253,776) $ 47,923
 Amortization of film
 costs, depreciation
 and amortization
 Entertainment $18,207 $18,641 $ 54,232 $ 56,267
 News 3,175 3,157 8,852 8,362
 Syndication and
 Licensing 26,174 20,047 73,059 62,284
 Sports 882 818 1,939 1,744
 Other 3,963 3,875 11,808 10,873
 Total $52,401 $46,538 $149,890 $139,530
 (a) Certain prior year amounts have been reclassified to conform to the 1993 presentation. The Real Estate Segment, previously reported separately, is now included in "Other." A new line item, "Equity in income (loss) of unconsolidated entities" includes the results of a 50 percent interest in Hanna-Barbera Entertainment Co., Inc., previously reported in the Syndication and Licensing Segment; a 27.5 percent interest in n-tv acquired March 31, 1993; a 96 percent interest in the Atlanta Hawks and a 44 percent interest in the SportSouth Network (both of the latter previously reported in the Sports Segment); and a one- third interest in a joint venture which operates a computerized ticket sales agency.
 (b) Operating profit is defined as income before interest expense, interest income, income taxes, extraordinary items and the cumulative effect of a change in accounting for income taxes.
 (c) In 1993, the extraordinary item is the result of the early extinguishment of debt, net of tax benefits of $4 million. In 1992, the extraordinary item is the result of a tax benefit from realization of operating loss carryforwards.
 (d) Effective Jan. 1, 1993, the company adopted Statement of Financial Accounting Standards No. 109, "Accounting for Income Taxes."
 -0- 11/10/93
 /CONTACT: Kitsie Riggall of TBS, 404-827-1825/
 (TBS)


CO: Turner Broadcasting System, Inc. ST: Georgia IN: ENT SU: ERN

RA-TG -- AT004 -- 2577 11/10/93 08:22 EST
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