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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
REVENUES:        
Advertising $ 157,480 $ 154,432 $ 521,542 $ 517,482
Sublicensing and own production revenue 3,348 4,068 15,638 9,527
Other revenue 1,181 1,078 3,533 2,593
Total operating revenues 162,009 159,578 540,713 529,602
EXPENSES:        
Direct operating expenses (exclusive of amortization of programming rights, sublicensing rights and own production cost, shown below; exclusive of depreciation and amortization of $3,876 and $4,215 for the three months and $10,355 and $12,424 for the nine months ended September 30, 2011 and 2012, respectively; and exclusive of stock-based compensation of $806 and $458 for the three months and $5,242 and $1,270 for the nine months ended September 30, 2011 and 2012, respectively) (10,220) (11,066) (33,411) (32,533)
Selling, general and administrative (exclusive of depreciation and amortization of $904 and $696 for the three months and $2,570 and $2,627 for the nine months ended September 30, 2011 and 2012, respectively; and exclusive of stock- based compensation of $(50) and $1,273 for the three months and $10,350 and $4,082 for the nine months ended September 30, 2011 and 2012, respectively) (40,589) (35,808) (124,860) (116,675)
Stock-based compensation expense (1,731) (756) (5,352) (15,592)
Amortization of programming rights (65,037) (62,836) (220,187) (209,047)
Amortization of sublicensing rights and own production cost (1,066) (971) (4,304) (1,796)
Depreciation and amortization (exclusive of amortization of programming rights, sublicensing rights and own production cost) (4,911) (4,780) (15,051) (12,925)
Impairment loss (Note 8) (82,503) (16,843) (82,503) (16,843)
Total operating expenses (206,057) (133,060) (485,668) (405,411)
OPERATING INCOME/(LOSS) (44,048) 26,518 55,045 124,191
FOREIGN CURRENCY GAINS (LOSSES) 1,115 (2,054) 1,666 (307)
INTEREST INCOME 1,790 1,207 5,778 3,946
INTEREST EXPENSE (231) (98) (596) (361)
OTHER NON-OPERATING INCOME, net 370 4,425 1,216 4,645
EQUITY IN INCOME OF INVESTEE COMPANIES 223 147 657 514
Income (loss) before income tax (40,781) 30,145 63,766 132,628
INCOME TAX (EXPENSE)/ BENEFIT 2,000 (12,868) (33,496) (51,369)
CONSOLIDATED NET INCOME (LOSS) (38,781) 17,277 30,270 81,259
LESS: (INCOME) LOSS ATTRIBUTABLE TO NONCONTROLLING INTEREST 301 (884) (2,082) (3,606)
NET INCOME (LOSS) ATTRIBUTABLE TO CTC MEDIA, INC. STOCKHOLDERS $ (38,480) $ 16,393 $ 28,188 $ 77,653
Net income (loss) per share attributable to CTC Media, Inc. stockholders-basic (in dollars per share) $ (0.24) $ 0.10 $ 0.18 $ 0.49
Net income (loss) per share attributable to CTC Media, Inc. stockholders-diluted (in dollars per share) $ (0.24) $ 0.10 $ 0.18 $ 0.49
Weighted average common shares outstanding-basic (in shares) 158,160,719 157,306,064 157,939,820 157,192,671
Weighted average common shares outstanding-diluted (in shares) 158,160,719 157,937,940 158,295,732 158,028,622
Dividends declared per share (in dollars per share) $ 0.13 $ 0.22 $ 0.39 $ 0.60