AMC Networks' profits jumped in the first quarter as original programs
like The Walking Dead attracted a big
increase in ad revenue.
First quarter net income rose 43% to $61.5 million, or 85 cents a
share, from $43.1 million, or 60 cents a share. Revenues rose 17% to $382 million.
"AMC Networks is off to a
strong start in2013, with double digit increases in net revenues, AOCF and
operating income driven by our popular original programming that is resonating
with an increasing number of viewers and advertisers," CEO Josh Sapan said in a
Cash flow at AMC's national
networks -- AMC, WeTV, IFC and Sundance Channel -- was up 19.3% to $159 million.
Revenues rose 18.2% to $359.5 million.
Advertising revenue was up
26.9% to $164 million. The company said that there was strong demand for
original programming, primarily at AMC.
Distribution revenue rose 11.7%
to $196 million, reflecting increase in digital distribution income and
affiliate fees. Programming expenses were
higher, while marketing expenses were down.