Manila Broadcasting Co. Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017; Provides Capital Expenditure Guidance for the Year 2017
November 13, 2017 at 01:16 am
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Manila Broadcasting Co. reported unaudited earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, the company reported revenue of PHP 263,152,965 compared to PHP 278,150,179 a year ago. Income before income taxes was PHP 23,520,930 compared to PHP 35,504,930 a year ago. Net income was PHP 16,464,651 or PHP 0.041 per basic and diluted share compared to PHP 24,853,451 or PHP 0.062 per basic and diluted share a year ago.
For the nine months, the company reported revenue of PHP 820,513,356 compared to PHP 949,206,737 a year ago. Income before income taxes was PHP 143,500,040 compared to PHP 161,983,406 a year ago. Net income was PHP 100,450,028 or PHP 0.249 per basic and diluted share compared to PHP 113,388,385 or PHP 0.282 per basic and diluted share a year ago. Net cash used in operating activities was PHP 214,984,503 compared to net cash provided by operating activities of PHP 112,885,009 a year ago. Net addition to property, equipment & investment properties was PHP 26,254,239 compared to PHP 18,963,739 a year ago. Book value per share was PHP 2.544 compared to PHP 2.195 a year ago.
The company plans to earmark PHP 75.0 Million capital expenditure for 2017 year on various projects, namely: purchase of new transmitters for provincial stations, RHTV broadcast expansion over various cable and TV channels, leasehold improvement of Head Office, audio and video streaming over the internet, and improvement of existing stations' equipment and facilities nationwide. This will be funded by cash flows from operating activities.
Manila Broadcasting Company is a Philippines-based media company. The Company is engaged in the business of radio broadcasting. The Company operates through the radio and television broadcasting division. The Company has eight programming formats, namely DZRH, Aksyon Radyo, Love Radio, Yes-FM, Easy Rock, Radyo Natin, RHTV and New Media. It is engaged in the radio broadcasting industry in the Philippines, with a diverse range of stations catering to various segments of the market. Its flagship station, DZRH, is a nationwide amplitude modulation (AM) station via satellite in the country. Its Aksyon Radyo is a network of provincial AM stations, while Radyo Natin is a network of community radio stations in the country, with over 100 small frequency modulation (FM) stations across the archipelago. The Company partners with various local and foreign suppliers for the maintenance and upgrade of its existing stations and new stations. It has stations in various parts of the country.
Manila Broadcasting Co. Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017; Provides Capital Expenditure Guidance for the Year 2017