GMA Network, Inc. Announces Consolidated Earnings Results for the First Quarter Ended March 31, 2012; Reiterates Earnings Guidance for the Year 2012
May 16, 2012
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GMA Network, Inc. announced consolidated earnings results for the first quarter ended March 31, 2012 2012. Consolidated revenues for the first three mont is dipped at a manageable level of 4% to PHP 3.002 billion from 2011's PHP 3.138 billion. The Company's net income reached PHP 388 million, a strong start from the heels of a lukewarm closing in 2011, but failed to match or top last year's PHP 534 million.
The company reiterated earnings guidance for the year 2012. The company expects net income of PHP 2.8 billion and revenue target of over PHP 14 billion in gross revenues for 2012.
GMA Network, Inc. is a Philippines-based media broadcasting company primarily involved in the business of radio and television broadcasting. The Company is also involved in film production and other information and entertainment-related businesses. Its segments include Television and Radio, International Subscription and Other businesses. The Television and Radio segment is engaged in television and radio broadcasting activities. The International Subscription segment is engaged in subscription arrangements with international cable companies. Its Other businesses segment includes movie production, consumer products and other services. Its subsidiaries include Alta Productions Group, Inc. (Alta), which operates pre and post-production services; GMA Network Films, Inc, which is engaged in film production; GMA New Media, Inc., which is engaged in converging technology, and RGMA Marketing and Productions, Inc., which is engaged in music recording, publishing and video distribution.
GMA NETWORK, INC. 
