Central European Media (CETV) Narrows Q1 Loss to 33c/Share

Central European Media (NASDAQ: CETV) reported Q1 EPS of ($0.33), versus ($1.23) reported last year. Revenue for the quarter came in at $153.1 million, versus $132.7 million reported last year.

Michael Del Nin, co-Chief Executive Officer, commented: "The first quarter of 2014 demonstrates tangible results from our operating priorities, including increases in television advertising revenue and carriage fees. Having completed the rights offering and private placement and used the proceeds to discharge the 2016 Fixed Rate Notes, we can now focus our energy on operations to significantly improve financial performance throughout this year."

Christoph Mainusch, co-Chief Executive Officer, added: "Despite increased programming investment by some of our competitors and the broadcast of the winter Olympics on other channels, our focus on efficient and targeted investments in programming led to all-day audience shares increasing in our four largest markets. Our brands and leading audience shares are our most valuable assets, and we are committed to maintaining our leadership positions in each country. And the results of our product performance in the first quarter of 2014 demonstrate our commitment to maintaining this audience share leadership."

For earnings history and earnings-related data on Central European Media (CETV) click here.

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