AMERICAN MEDIA, INC. reports FIRST QUARTER FISCAL YEAR 2016 RESULTS
First Quarter Highlights
• Company posted Revenues of $56.1 million and Adjusted EBITDA of $17.2 million for the first quarter of FY 2016.
• True cash EBITDA is $15.2 million for the first quarter of FY 2016, which is $5.1 million, or 50%, higher than the prior year period.
• Investment highlights are no future digital investments required after spending $48 million over the last 7 years.
• Newsstand unit sales have stabilized for the celebrity market over the last 48 consecutive weeks.
• Chairman, President and CEO David Pecker reconfirmed Full Fiscal Year 2016 guidance of $230 to $235 million of Revenue and $80 to $85 million of Adjusted EBITDA resulting in $25 to $30 million of free cash flow.
NEW YORK, August 19, 2015 /PRNewswire/ - American Media, Inc. (AMI) reported financial results for its first fiscal quarter ended June 30, 2015.
AMI Chairman, President and CEO David Pecker said, “Our first quarter results show how successful we have been in extending our brands and content across multiple platforms. Our six point strategy for digital growth, the stable sales our celebrity titles are experiencing on the newsstand and the outstanding performance of Men’s Fitness all provide a solid foundation for AMI’s future.”
First Quarter Fiscal Year 2016
Traffic growth has been the driving force behind AMI’s digital advertising revenue of $3.4 million for the three months ended June 30, 2015, which is up $1.4 million, or 70%, over the prior year period. In July 2015, AMI generated 50 million unique visitors and 348 million page views across its 14 sites and their platforms, up 43% and 30%, respectively, over the prior year.
Men’s Fitness continued its strong performance through the first quarter of Fiscal Year 2016, with advertising revenue of $4.0 million, up $600,000, or 17%, over the prior year period.
Star and OK! generated $5.0 million of print ad revenue, which was up 6% over the prior year. RadarOnline’s strong operational performance continued during the quarter ended June 30, 2015 with digital advertising revenue of $2.0 million, up 4% versus the prior year period.
The following information was filed by American Media Inc (AMI) on Wednesday, August 19, 2015 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.