JohnCenaFan28
02-24-2009, 03:32 PM
In a press release issued this morning, WWE reported their 2008 full year results as well as their 2008 fourth quarter earnings. Too much disappointment, revenues for the fourth quarter totaled $125.4 million compared to $132.6 million in the prior year quarter. Operating income was $23.3 million as compared to $24.7 million in the prior year quarter. Net income was $13.6 million as compared to $21.5 million in the prior year quarter. This is a $7.9 million decrease.
Total revenues for the twelve months ended December 31, 2008 were $526.5 million as compared to $485.7 million in the prior year period, an 8% increase. Operating income for the current period was $70.3 million versus $68.4 million in the prior year period. Net income was $45.4 million as compared to $52.1 million in the prior year period. This makes 2008 $6.7 less than 2007.
In the press release, WWE CEO Linda McMahon said that the company demonstrated resilience to a difficult economic environment. She also said that is why the company will be cutting $20 million in expenses in 2009 by reducing its staff by 10% as well as other operating costs. Linda will host a conference call with investors to discuss the results at 11:00 a.m. EST this morning.
You can read the full press release at this link ( http://corporate.wwe.com/news/documents/PRESSRELEASEFINAL2-24-09.pdf).
Total revenues for the twelve months ended December 31, 2008 were $526.5 million as compared to $485.7 million in the prior year period, an 8% increase. Operating income for the current period was $70.3 million versus $68.4 million in the prior year period. Net income was $45.4 million as compared to $52.1 million in the prior year period. This makes 2008 $6.7 less than 2007.
In the press release, WWE CEO Linda McMahon said that the company demonstrated resilience to a difficult economic environment. She also said that is why the company will be cutting $20 million in expenses in 2009 by reducing its staff by 10% as well as other operating costs. Linda will host a conference call with investors to discuss the results at 11:00 a.m. EST this morning.
You can read the full press release at this link ( http://corporate.wwe.com/news/documents/PRESSRELEASEFINAL2-24-09.pdf).