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|CONTACT:||Mark Brockelman, VP/CAO|
|American Media, Inc.|
AMERICAN MEDIA, INC. REPORTS FOURTH
QUARTER AND FISCAL 2005 YEAR END RESULTS
BOCA RATON (June 13, 2005) - American Media, Inc. (AMI), the nations largest publisher of celebrity, health and fitness, and Spanish language magazines, today announced results for the fourth fiscal quarter and fiscal year ended March 31, 2005. We intend to file our Annual Report on Form 10-K on or about June 29, 2005.
|||Revenues for the fiscal year ended March 31, 2005 increased 4.1% to $536.6 million, compared to $515.7 million for the prior fiscal year.|
|||The Companys operating income for the fiscal year ended March 31, 2005 decreased 23.6% to $86.8 million from $113.6 million for the prior fiscal year, due in part to the significant investment in the re-launch of Star magazine.|
David J. Pecker, American Medias Chairman, President and CEO commented, Because of greater competitive challenges, Fiscal 2005 became a year of significant re-investment for AMI. Our results reflect this and we believe we are now in a much stronger strategic position to drive growth in profitability.
As the leader in the celebrity journalism market, AMI has been the target of several new entrants that have had success with re-packaging celebrity news at a lower cover price. While the new Star glossy magazine has not been impacted, we have lost market share with our tabloids, which were down in units approximately 10% in fiscal 2005. In response to the success of these lower priced celebrity weeklies, we have just launched a new glossy title, Celebrity Living, with a cover price of $1.89, the lowest in the category. Celebrity Living focuses on the lifestyles of celebrities, with a strong emphasis on fashion and beauty products and tips, which differentiates it from other titles in the category.
We are now seeing our investment to re-launch Star as a glossy magazine pay dividends. Stars single copy unit sales are up 4.0% with a $3.29 cover price through March versus the March 2004 quarter when we transitioned it from an 84 page tabloid with a $2.99 cover price. Advertising
The following information was filed by American Media Operations Inc on Monday, June 20, 2005 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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