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AMC Networks has reported financial results for the full year and fourth quarter ended December 31st 2015.
President and Chief Executive Officer Josh Sapan said: “2015 was a successful year for our company. Our strategy of creating compelling original, high-quality programming continues to deliver strong financial results, including double digit increases in revenue and adjusted operating cash flow. We premiered three new AMC original series, Fear the Walking Dead, Better Call Saul and Into the Badlands, all of which broke ratings records. We received widespread critical praise and industry honours for our television and film content. We continued to build and expand our international business into key markets across Europe and Latin America.”
Fourth quarter net revenues increased 11.4 per cent, or $70 million, to $679 million over the fourth quarter of 2014, led by 12.5 per cent growth at National Networks and an increase of $9 million at International and Other.
Full year 2015 net revenues increased 18.6 per cent, or $405 million, to $2.581 billion over full year 2014, reflecting 22.4 per cent growth at National Networks and an increase of $18 million at International and Other. AOCF totalled $838 million, an increase of 27.1 per cent, or $179 million, versus the prior year period.
National Networks revenues (principally consists of the Company’s five nationally distributed programming networks, AMC, WE tv, BBC AMERICA, IFC and SundanceTV) for the fourth quarter 2015 increased 12.5 per cent to $562 million, AOCF decreased 0.9 per cent to $189 million, and operating income declined 2.6 per cent to $173 million, all compared to the prior year period.