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AMC Networks Inc Class A AMCX
Q4 2012 Earnings Call Transcript

Transcript Call Date 02/26/2013

Operator: Good morning. My name is Christie, and I will be your conference operator today. At this time, I would like to welcome everyone to the AMC Networks' Fourth Quarter Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. Thank you.

I would now like to turn the call over to Seth Zaslow, Senior Vice President of Investor Relations.

Seth Zaslow - SVP, IR: Thank you. Good morning, and welcome to the AMC Networks' full year and fourth quarter 2012 earnings conference call. Joining us this morning are members of our executive team Josh Sapan, President and Chief Executive Officer; Ed Carroll, Chief Operating Officer and Sean Sullivan, Chief Financial Officer.

Following a discussion of the Company's full year and fourth quarter 2012 results, we will open the call for questions. If you don't have a copy of today's earnings release, it is available on our website at amcnetworks.com. This call can also be accessed via our website.

Please take note of the following; today's discussions may contain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that any such forward-looking statements are not guarantees of the future performance or results and involve risks and uncertainties that could cause actual results to differ. Please refer to the Company's filings with the Securities and Exchange Commission for a discussion of risks and uncertainties. The Company disclaims any obligation to update the forward-looking statements that may be discussed during this call.

Further we will discuss non-GAAP financial information. We believe the presentation of non-GAAP results provides you with useful supplemental information concerning the Company's ongoing operation and is appropriate in your evaluation of the Company's performance. Please refer to the press release and related footnotes for GAAP information and a reconciliation of GAAP to non-GAAP information which we'll refer to on this call.

I would now like to turn the call over to AMC Network's President and CEO, Josh Sapan.

Joshua W. Sapan - President and CEO: Good morning and thank you for joining us. I will provide a brief summary of our financial performance, followed by an update on the business and then turn it over to Sean Sullivan for greater financial detail. 2012 was a successful year for AMC Networks. We made significant strides on both the financial and operational front and the fundamentals of our business are quite strong.

In the fourth quarter, the Company reported 8% revenue growth and AOCF decline 4%. As we discussed in our last call, our results for the quarter were negatively impacted by our litigation with DISH Network and the associated temporary drop of our networks from the DISH platform. Sean will discuss the impact in more detail, but as a reminder our networks throughout to this platform for essentially the month of October and we incurred marketing and legal expenses related to the dispute during that period.

Read our Earnings Call Transcript disclaimer.
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