The Madison Square Garden – MSG – Company had an impressive year
The Madison Square Garden Company (Nasdaq:MSG) reported financial results for the fourth quarter and fiscal year ended June 30, 2012.
- Fiscal 2012 revenue of $1.3 billion, an 8% increase compared to prior year
- Fiscal 2012 AOCF of $283.2 million, a 36% increase compared to prior year
- Fiscal 2012 operating income of $177.5 million, up 44% versus prior year
Fiscal 2012 revenues of $1.3 billion grew 8%, as compared to the prior year, primarily due to an increase in revenues in the MSG Sports and MSG Media segments, partially offset by a decrease in revenues in the MSG Entertainment segment. Fiscal 2012 adjusted operating cash flow of $283.2 million increased 36%, as compared to the prior year, primarily driven by improved AOCF results in all three of the Company’s business segments. Fiscal 2012 operating income of $177.5 million grew 44% and net income of $106.5 million ($1.38 per diluted share) grew 34%, both as compared to the prior year.
Fiscal 2012 fourth quarter revenues of $332.9 million grew 42%, as compared to the prior year period, primarily due to an increase in revenues in all three of the Company’s business segments. Fiscal 2012 fourth quarter AOCF of $77.8 million increased 90%, as compared to the prior year period, primarily driven by an AOCF increase in the MSG Sports segment and, to a lesser extent, by an AOCF increase in the MSG Media segment and improved AOCF results in the MSG Entertainment segment. Operating income of $49.9 million grew 245% and net income of $28.6 million ($0.37 per diluted share) grew 235%, both as compared to the prior year quarter.
President and CEO Hank Ratner said: “Our Company had an impressive year as the ongoing strength of our fully integrated media, entertainment and sports business drove record AOCF for fiscal 2012. The second phase of the Arena Transformation is progressing well and we look forward to the debut of the transformed upper bowl this fall. Looking ahead, we remain confident that the breadth and strength of our assets and brands position us well for long-term growth and value creation for our shareholders.”
About The Madison Square Garden Company – MSG
The Madison Square Garden Company (MSG) is a fully-integrated sports, media and entertainment business. The Company is comprised of three business segments: MSG Sports, MSG Media and MSG Entertainment, which are strategically aligned to work together to drive the Company’s overall business, which is built on a foundation of iconic venues and compelling content that the company creates, produces, presents and/or distributes through its programming networks and other media assets.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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