UPDATE: AMC Networks Beats Q4 Estimates

reported stronger-than-expected results for the fourth quarter. The New York-based company posted a quarterly profit of $77.6 million, or $1.06 per share, versus a year-ago profit of $35.4 million, or $0.49 per share. Its sales climbed 40% to $609.4 million. However, analysts were expecting earnings of $0.99 per share on revenue of $602.42 million. The company's revenue from national networks business jumped 19.7% to $500 million in the quarter, while international and other revenue surged $92 million from the year-ago quarter to $110 million. Adjusted operating cash flow surged 96.9% to $194 million in the quarter, while operating income climbed 87.1% to $159 million. President and Chief Executive Officer Josh Sapan said, "The fourth quarter and full-year 2014 was strong for AMC Networks with double digit percentage increases in our revenue and cash flow. The strong performance of our original programming with record ratings at our national networks has led to continued increases in affiliate fees and advertising revenues." AMC Networks shares closed at $69.17 yesterday.