MUMBAI: US media conglomerate Viacom?s revenues for the first quarter ended 31 December 2012 have fallen by 16 per cent to $3.3 billion from $3.9 billion in the same period last year. The reason was lower revenues from the film division as a result of the schedule of releases.

Operating income and adjusted net earnings from continuing operations attributable to Viacom declined by 22 per cent to $797 million and $461 million, respectively, reflecting lower film results and a decline in Media Networks ad revenues, partially offset by increased affiliate revenues. Adjusted diluted earnings per share from continuing operations decreased by 14 per cent to $0.91 per diluted share.

Media Networks revenues decreased by two per cent to $2.39 billion. Domestic and worldwide ad revenues each decreased by six per cent. The decline in domestic ad revenues was driven by lower ratings. Domestic affiliate revenues increased by four per cent. Excluding the impact of digital distribution arrangements, which are affected by the timing of available programming, the domestic affiliate revenue growth rate was in the low-double digits. Worldwide affiliate fees increased by three per cent.

Filmed Entertainment revenues were down by 37 per cent to $975 million. Worldwide theatrical revenues decreased by 42 per cent in the quarter to $328 million, principally reflecting the difficult comparison against the prior year release of ?Mission: Impossible - Ghost Protocol?, as well as the year over year comparison of revenue from third-party theatrical releases. Worldwide home entertainment revenues declined 43%, principally resulting from fewer releases in the quarter compared to the first quarter of 2012. The decline in home entertainment revenues also reflects lower carryover revenues from the prior period release of ?Transformers: Dark of the Moon?. Television license fees decreased by 24 per cent to $227 million in the quarter.

Viacom executive chairman Sumner M. Redstone said, "Viacom continues to build on its impressive global portfolio of movies, television programming and digital content. Philippe leads a talented executive and creative team at Viacom, and I am fully confident that by investing in new hits we will continue to build our outstanding brands and deliver strong value to shareholders."

Viacom president, CEO Philippe Dauman said, "Throughout the quarter, we kept our focus on creative excellence and strategic programming investment. Our ongoing investments in programming continue to produce results, with positive ratings trends and growing consumer engagement in new hit content, despite difficult short-term comparisons based on the mix of film releases and the lingering effect of ratings softness last year. Our television brands continue to be highly valued by distribution partners, highlighted by our double digit organic affiliate revenue growth. Paramount is well positioned for the future, with several upcoming tentpole releases, including G.I. Joe: Retaliation, Pain & Gain, Star Trek Into Darkness and World War Z. In addition, we are working closely with existing distribution partners and new digital distributors to continue to launch robust and consumer-friendly content experiences.

"Viacom?s ability to generate significant cash flow permits us to continuously invest in our businesses and deliver value directly to shareholders through our share repurchase and dividend programs. Viacom?s strong balance sheet has provided the flexibility to tap the financing markets and lower our average cost of debt."

MUMBAI: US media conglomerate Viacom has reported results for the fourth quarter and year ended 30 September 2012, with bottom line growth and substantial increases in earnings per share.

Revenues for the full year were $13.89 billion, down seven per cent from the previous year, reflecting higher Media Networks revenues, more than offset by lower film revenues. Adjusted operating income grew by one per cent to $3.9 billion, principally reflecting higher Media Networks revenues.

Its full year adjusted net earnings from continuing operations attributable to Viacom rose by one per cent to $2.26 billion and full-year adjusted diluted earnings per share from continuing operations increased by 11 per cent to $4.21 per diluted share, reflecting the impact of the company?s ongoing share repurchase program.

Its revenues in the fourth quarter declined 17 per cent to $3.36 billion, due to lower filmed revenues. Adjusted operating income of $1.05 billion was essentially flat compared to the prior year?s comparable quarter as the revenue decrease was substantially offset by lower expenses. Adjusted net earnings from continuing operations attributable to Viacom in the fourth quarter rose by two per cent to $626 million, and adjusted diluted earnings per share from continuing operations increased 14% to $1.21.

Viacom executive chairman Sumner M. Redstone said, "Viacom continues to create many of the world?s best known and most exciting media properties, and delights audiences across the globe with content for every screen imaginable. Our unparalleled creative minds and Philippe?s outstanding management position Viacom perfectly for long-term growth."

Viacom president, CEO Philippe Dauman said, "Viacom is executing on its goals of continued investment in great content, ongoing operational excellence and ever-increasing returns to shareholders. Our Media Networks drove value in the quarter and the year through steady growth in distribution revenues, and the production of new and engaging programming that connects with valuable audiences. Viacom?s media brands have built unrivaled connections with their fans, creating unique experiences and powerful opportunities for advertisers.

"We continue to invest in our future across all platforms and geographies. Paramount also continued to achieve solid margin growth in the fourth quarter and full year, and has an exciting pipeline in place with eight films in the first fiscal quarter, including Jack Reacher, DreamWorks Animation?s Rise of the Guardians and the recently released Flight.

"Viacom?s balance sheet remains strong, providing the flexibility to invest in our business while delivering capital directly to shareholders. Our shareholders received $3.4 billion in capital in fiscal 2012 through our share repurchase and dividends, and Viacom is firmly committed to achieving its strong capital return goals."

In the fourth quarter media networks revenues were flat at $2.29 billion, principally reflecting increased affiliate fees offset by lower advertising and ancillary revenues. Domestic affiliate revenues increased 12 per cent, driven by rate increases and higher digital revenues. Worldwide affiliate revenues increased 11 per cent. Domestic ad revenues declined by six per cent and worldwide advertising revenues decreased by seven per cent. Film revenues declined by 39 per cent to $1.09 billion, principally due to the number and mix of theatrical and home entertainment titles released in the quarter, and reflecting difficult comparisons with the significant impact of Transformers: Dark of the Moon in the fourth quarter of 2011. TV and ancillary revenues in the Filmed Entertainment segment rose by 19 and 21 per cent respectively.

For the year media networks revenues rose $49 million to $9.19 billion, reflecting an 11 per cent increase in affiliate revenue to $3.89 billion that was partially offset by a five per cent decrease in ad revenues to $4.76 billion. Domestic affiliate revenues increased by 10 per cent and domestic ad revenues declined by four per cent. Film revenues decreased by 19 per cent to $4.82 billion.

Quarterly adjusted operating income was essentially flat at $1.05 billion, due to a three per cent decline in the Media Networks segment partially offset by an increase in Filmed Entertainment. Media Networks results reflected a slight increase in expenses driven by higher operating costs associated with increased programming investment, substantially offset by lower selling, general and administrative expenses. The 5% growth at Filmed Entertainment was driven by higher TV and digital revenues and the beneficial impact of previously announced strategic cost savings initiatives.

Full-year adjusted operating income increased $47 million, or one per cent, to $3.90 billion from $3.85 billion last year. Media networks adjusted operating income increased $41 million, principally reflecting the net increase in revenues. Higher operating expenses driven by programming investment were substantially offset by decreases in selling, general and administrative expenses and lower depreciation and amortization. Film adjusted operating income decreased $16 million, principally reflecting a difficult comparison with the one-time benefit from the sale of certain Marvel distribution rights in the prior year, partially offset by this year?s increased digital revenues.

Quarterly adjusted net earnings from continuing operations attributable to Viacom rose by two per cent to $626 million. The increase reflects gains from foreign exchange and a lower effective corporate tax rate. Adjusted diluted earnings per share from continuing operations for the quarter were $1.21, a 14% increase from $1.06 in the prior year?s comparable quarter.

Full-year adjusted net earnings from continuing operations attributable to Viacom rose to $2.264 billion, an increase of one per cent over the prior fiscal year. The improvement was principally due to growth in adjusted operating income. Full-year adjusted diluted earnings per share from continuing operations increased by 11 per cent to $4.21, principally reflecting fewer outstanding shares.

MUMBAI: The weak ad environment caused by the economic slowdown is starting to hit the bottom line of Viacom. The US media conglomerate has reported a fall in its profit and revenues.

While profit fell by seven per cent, revenue decreased 14 per cent to $3.24 billion, driven primarily by the mix of film titles and lower ad revenues. Adjusted operating income was $903 million in the quarter, down nine per cent, reflecting the overall decline in revenues, partially offset by lower expenses.

Adjusted net earnings from continuing operations attributable to Viacom declined by 12 per cent in the quarter to $512 million, and adjusted diluted earnings per share from continuing operations decreased by two per cent to $0.97 per diluted share.

The comparison with 2011 was impacted by the fact that Viacom?s 2011 third quarter included substantial timing benefits from major films and television event programming, as well as digital distribution agreements.

Viacom executive chairman Sumner M. Redstone said, "We continue to develop outstanding creative content on every platform while efficiently executing Viacom?s strategy. We are confident that Viacom?s unrivaled portfolio of powerful brands will continue to grow and evolve over the long term as we entertain and inspire new audiences around the world every day."

Viacom president, CEO Philippe Dauman said, "Despite challenging year-on-year comparisons with last year?s strong third quarter, Viacom remains committed to pursuing its long-term strategy of international expansion, continued programming investment and ongoing focus on operational discipline. Viacom continues to bring cultural powerhouses to fans around the world, and we are aggressively investing in our brands to create new hits, like Workaholics and Legend of Korra, now the most watched kid?s program on cable in the quarter. Paramount also continued to strengthen its platform by aligning its slate to provide upcoming releases with the best possible opportunity to succeed in the global marketplace."

Quarterly revenues of $3.24 billion decreased from $3.77 billion in the prior year. Media Networks revenue declined 5 per cent to $2.27 billion, driven by lower advertising and ancillary revenues.

Domestic advertising revenues decreased 7 per cent, impacted by the timing of event-driven programming compared with the prior year?s quarter. Worldwide advertising revenues decreased 9 per cent in the quarter.

Domestic affiliate revenues decreased 1 per cent, reflecting the significance of digital affiliate revenues in the same quarter last year. Excluding the impact of digital distribution arrangements, domestic affiliate revenue growth rate was in the high-single digits. Worldwide affiliate fees increased 1 per cent.

Film revenues were down 29 per cent to $1.01 billion. Worldwide theatrical revenues decreased by 52 per cent in the quarter to $283 million, reflecting the number and mix of the company?s current quarter releases. During the quarter, Paramount released three films,DreamWorks Animation?s ?Madagascar 3: Europe?s Most Wanted?, ?The Dictator? and ?Titanic 3D?. In the comparable period of 2011, Paramount released four films: DreamWorks Animation?s ?Kung Fu Panda 2?, Marvel?s ?Thor?, ?Super 8? and ?Transformers: Dark of the Moon?.

Worldwide home entertainment revenues declined by eight per cent in the quarter, driven by the mix of available titles, and worldwide television license fees decreased by 24 per cent reflecting both the number and mix of titles. Worldwide ancillary revenues increased by 44 per cent to $104 million in the quarter, driven by higher digital revenues.

Adjusted operating income decreased 9 per cent to $903 million in the quarter. Media Networks adjusted operating income declined $99 million, reflecting lower overall revenues, partially offset by a decrease in expenses. Filmed Entertainment adjusted operating income decreased $3 million, reflecting the revenue decline, substantially offset by lower expenses. Corporate expenses decreased $15 million, principally reflecting lower variable compensation costs.

Quarterly adjusted net earnings from continuing operations attributable to Viacom decreased $71 million, or 12 per cent, in the quarter ended 30 June, 2012, principally due to the decline in adjusted operating income. Adjusted diluted earnings per share from continuing operations for the quarter were $0.97, a decrease of $0.02 from the prior year?s comparable quarter.

MUMBAI: US media conglomerate Viacom has posted a consolidated revenue of $3.95 billion in the fiscal first quarter ended December, up three per cent over the earlier year. This is driven by growth in both the Media Networks and Filmed Entertainment segments.

First quarter operating income declined by two per cent to $1.02 billion, reflecting higher media networks revenues more than offset by lower filmed entertainment ancillary revenues.

However net earnings from continuing operations attributable to Viacom in the first quarter decreased by five per cent to $591 million. Diluted earnings per share from continuing operations increased to $1.06, up by four per cent over the first quarter of 2011.

Quarterly operating income of $1.02 billion decreased by two per cent, from $1.04 billion in the first quarter of 2011, driven primarily by the decline in ancillary revenues in film partially offset by the increase in media networks affiliate revenues.

Viacom president, CEO Philippe Dauman said, "In the first quarter of 2012, Viacom proved that it has the creative capability, operational resolve and financial strength to deliver for shareholders despite short term economic headwinds. Our proven strategy of continuing to invest in creative content is fueling momentum across our properties.

MTV, Comedy Central and Bet were home to many of the top rated shows in the first quarter of fiscal 2012 and Nickelodeon remained the number one cable network for kids. Despite short term softness in the overall ad markets, Viacom?s quarterly results benefited from strong affiliate fee revenue growth, as our industry-leading portfolio of TV brands continued to attract traditional distributors as well as emerging digital services."

Paramount Pictures also began the year with a strong performance in the theatrical market, with hits like Paranormal Activity 3 and Mission: Impossible ? Ghost Protocol, which has generated approximately $575 million at the worldwide box office.

Paramount is looking forward to its slate of films for the 2012 calendar year and has already made a strong start with the breakout performance of The Devil Inside, a low-cost genre film from Paramount?s Insurge Pictures label that has earned more than $50 million at the box office.

Quarterly revenues increased by three per cent to $3.95 billion from $3.83 billion in the prior year. Higher Media Networks revenues of $2.45 billion were driven by an increase in affiliate fee revenues, partially offset by a decrease in advertising and ancillary revenues.

Domestic and worldwide affiliate fees each increased by 16 per cent, reflecting higher revenues from digital distribution arrangements, as well as rate increases. Ad revenue decreased by three per cent on both a domestic and worldwide basis, driven by lower ratings and softness in the US ad market in the second half of the quarter.

Film revenues increased by four per cent to $1.56 billion, driven by higher theatrical revenues, partially offset by lower ancillary revenues due to the prior year benefit from the sale of distribution rights of two future Marvel films and lower home entertainment revenues.

Quarterly net earnings from continuing operations attributable to Viacom declined to $591 million, a decrease of 5 per cent, from $620 million in the same period last year. The change reflects the decline in operating income and lower equity income.

MUMBAI: US media conglomerate Viacom has announced that fourth quarter revenues increased by 22 per cent to $4.05 billion.

Adjusted Operating Income grew by 27 per cent o $1.06 billion, reflecting a significant increase in profitability in the film segment and double-digit growth in the media networks segment. Fourth quarter adjusted net earnings increased by 33 per cent to $614 million.

Consolidated revenues for the year increased by 12 per cent to $14.91 billion, with significant contributions from both media networks and film. Full-year adjusted operating income grew by 13 per cent to $3.85 billion, reflecting higher ad and affiliate revenues in Media Networks.

Full-year adjusted net earnings from continuing operations attributable to Viacom rose 22 per cent to $2.25 billion and full-year adjusted diluted earnings per share from continuing operations increased 25 per cent to $3.78. The company also announced an expansion of stock repurchase programme to $10 billion from $4 billion.

Viacom executive chairman Sumner M. Redstone said, "Viacom‘s performance in fiscal 2011 once again illustrates the value of our focused strategy and strong leadership. Viacom‘s powerful brands are enhanced by operational and financial discipline, which continues to drive our results and build value for shareholders."

Viacom president, CEO Philippe Dauman said, "2011 was an outstanding year, highlighted by significant creative milestones, strong topline growth and expanded profitability across every division of Viacom. Creatively we are at the top of our game, powered by unique audience insights and connections, coupled with consistent investment in innovative programming at our marquee media networks, including MTV, Nickelodeon, Comedy Central, and BET. Paramount Pictures is benefiting from a disciplined franchise-centric approach that has produced an unprecedented number of hits in the domestic and international box office.

In terms of quarterly revenues media networks contributed $2.29 billion in revenues, an eight per cent gain over the same period last year, driven principally by growth in ad and affiliate revenues. Both worldwide and domestic ad revenues rose by seven per cent in the quarter. Worldwide affiliate revenues increased 11 per cent to $883 million, driven largely by rate increases.

Film revenues grew 46 per cent to $1.79 billion, principally due to the strong performance of ?Transformers: Dark of the Moon? in theatrical and home entertainment markets, as well as higher ancillary revenues, due in part to availability of titles for digital distribution.

For the year media networks delivered $814 million of the increase, reflecting a 10 per cent gain in ad revenues to $5 billion and a 12 per cent gain in affiliate fees to $3.52 billion, which more than offset a two per cent decline in ancillary revenues. Domestic advertising revenues rose 10 per cent. Domestic affiliate revenues increased 12 per cent, largely as a result of rate increases, as well as the availability of programming for digital distribution arrangements.

Film revenues increased 15 per cent to $5.92 billion, driven by sharply higher theatrical and ancillary revenues, as well as increased television license fees, which were partially offset by lower home entertainment revenues. The size and strength of the film slate were the primary drivers of a 58 per cent increase in theatrical revenues, while ancillary revenues rose by 48 per cent, principally reflecting the sale of distribution rights and digital revenues.

Quarterly adjusted operating income rise was driven by a 10 per cent increase in the media networks segment and a triple-digit gain in the film segment. Higher results in the media networks stemmed primarily from increases in domestic advertising and affiliate revenue, partially offset by higher programming investments. Film profits were driven by the strong performance of ‘Transformers: Dark of the Moon‘.

Full-year adjusted operating income increase was driven by higher adjusted operating income of $467 million in media networks, principally reflecting increased revenues, partially offset by higher expenses. Film adjusted operating income was substantially flat. Adjusted full-year 2011 results exclude the impact of the current year restructuring charges, while the adjusted results for prior year exclude the impact of asset impairment.

Quarterly adjusted net earnings‘ increase reflects higher adjusted operating income and a lower effective tax rate. Full-year adjusted net earnings from continuing operations attributable to Viacom increased 22 per cent to $2.25 billion in 2011, primarily due to the increase in tax-effected adjusted operating income and higher equity income principally from Epix, which generated income this year, compared with a loss in 2010. Full-year 2011 adjusted diluted earnings per share from continuing operations increased $0.76 to $3.78.

Stock Repurchase Programme: For the quarter ended 30 September, 2011 Viacom repurchased 19.7 million shares under its stock repurchase programme for an aggregate purchase price of $900 million. During the year ended 30 September, 2011 Viacom repurchased 55.7 million shares for an aggregate price of $2.5 billion. As of November 9, 2011, Viacom had $7.22 billion remaining in its $10 billion stock repurchase programme.

MUMBAI: US media conglomerate Viacom has reported double-digit gains for the quarter ended 30 June 2011.

Consolidated revenues in the quarter grew by 15 per cent to $3.77 billion, primarily driven by growth in affiliate, dvertising and television license revenues.
 
Adjusted operating income increased by 22 per cent to $995 million, fueled by Media Networks profit growth. Adjusted net earnings from continuing operations attributable to Viacom were up 35 per cent to $583 million with adjusted diluted EPS from continuing operations of $0.99, which represents a 39 per cent increase over the prior year‘s results of $0.71 per share.

Viacom president, CEO Philippe Dauman said, "The breadth of hit programming found across Viacom‘s media network portfolio continues to expand with top-rated shows and tentpole events on MTV, Nickelodeon, Comedy Central, BET and TV Land, as well as many of our international networks, all of which contributed to strong advertising growth and a
robust advertising upfront performance. We are strengthening our global entertainment brands and expanding our reach through new international and digital distribution and bringing our audiences the content they want on new platforms."

Paramount Pictures is the first studio ever to deliver a record six consecutive $100 million-plus domestic box office movies and it was the first studio to cross the $1 billion domestic box office threshold for the fifth year in a row.

Film revenues grew by 13 per cent to $1.41 billion due principally to higher television license fees and home entertainment revenues. The company‘s worldwide television license revenues were up by 36 per cent in the quarter to $416 million, driven by the number and mix of available titles.

Home entertainment revenues increased 33 per cent to $331
million, reflecting one additional release as compared with the prior year‘s quarter as well as the strength of the current year releases. Ancillary revenues also grew, up 57 per cent to $72 million.

These gains were partially offset by lower theatrical revenues, which were down nine per cent to $588 million, principally reflecting the timing of film releases.

"The prior year period benefited from strong carryover revenues from DreamWorks Animation‘s ‘How to Train Your
Dragon‘ whereas ‘Transformers: Dark of the Moon‘ was released in the final week of the fiscal 2011 third quarter, which will result in the majority of the film‘s theatrical revenues occurring in the fiscal fourth quarter," the company said.