TMCS ( $12 -$15) Reports Second Quarter EBITDA* Increase of 99%
Strong Volume Growth in Ticketing and Personals Operations; Citysearch Narrows Losses Significantly
Company Reports Cash EPS** of $0.14 for the Second Quarter 2001
LOS ANGELES, July 24 /PRNewswire/ -- Ticketmaster (Nasdaq: TMCS - news) today released quarterly and six month results for the period ended June 30, 2001.
Revenues in the second quarter of 2001 increased 12.6 percent over the comparable year-ago period to $187.0 million. EBITDA* in the second quarter of 2001 was $27.3 million, compared to EBITDA* of $13.7 million in the year ago quarter, an improvement of 98.7 percent. Cash EPS** was $0.14 per share compared with $(0.02) per share in the year ago quarter. First Call consensus for Cash EPS** for the second quarter of 2001 was $0.09 per share.
For the six-month period ended June 30, 2001, total company revenues were $358.1 million, compared to $315.2 million in the year ago period, an increase of 13.6 percent. EBITDA* for the six-month period was $46.1 million in 2001, compared to $22.1 million in 2000, an increase of 108.6 percent over the prior year period. Prior period comparisons are based on pro forma results for the prior periods assuming that the combination with Ticketmaster Corporation occurred on January 1, 2000. For a complete presentation of the results, please see the financial tables attached to this press release.
(*EBITDA - earnings before interest, taxes, depreciation, amortization, merger and other transaction costs, minority interest, advertising provided by USA Networks, Inc. for which no consideration was paid by the Company, non- cash compensation, equity income/loss of unconsolidated affiliates, investment losses, net and other income and expenses. **Cash EPS - basic earnings per share excluding amortization, merger and other transaction costs, equity in income/loss of unconsolidated affiliates, advertising provided by USA Networks, Inc. for which no consideration was paid by the Company, non-cash compensation and investment losses, net). |
