AMC Networks Inc. (NASDAQ:AMCX) Q1 2018 Earnings Conference Call Transcript

May 10, 2018 • 08:30 am ET

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AMC Networks Inc. (NASDAQ:AMCX) Q1 2018 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good morning. My name is Andreas and I will be your conference operator today. At this time, I would like to welcome everyone to the AMC Networks First Quarter 2018 Earnings Conference Call. All lines have been placed on mute to prevent any background noise.

After the speaker's remarks, there will be a question-and-answer session.

(Operator Instructions) Thank you.

I would now like to turn the conference over to Seth Zaslow, Senior Vice President of Investor Relations. Please go ahead.

Executive
Seth Zaslow

Thank you. Good morning and welcome to the AMC Networks first quarter 2018 earnings conference call. Joining us this morning are members of our Executive Team Josh Sapan, President and Chief Executive Officer; Ed Carroll, Chief Operating Officer; and Sean Sullivan, Chief Financial Officer.

Following a discussion of the Company's first quarter 2018 results we'll open the call for questions. If you don't have a copy of today's earnings release, it is available on our website at amcnetworks.com. This call can also be accessed via our website. Please take note of the following. Today's discussion may contain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

Investors are cautioned that any such forward-looking statements are not guarantees of the future performance or results and involve risks and uncertainties that could cause actual results to differ. Please refer to the Company's filings with the Securities and Exchange Commission for discussion of risks and uncertainties. The Company disclaims any obligatin to update the forward-looking statement that maybe discussed during this call.

Further, we will discuss non-GAAP financial information. We believe the presentation of non-GAAP results (Technical Difficulty) with useful supplemental information, concerning the Company's ongoing operations and is appropriate and your the evaluation of the Company's performance. For further details, please refer to the press release and related foot notes for GAAP information and a reconciliation of GAAP to non-GAAP information which will refer to on this call.

With that, I would now like to turn the call over to Josh.

Executive
Joshua W. Sapan

Good morning and thank you for joining us. We're off to a solid start for the year including record revenue and earnings per share, as well as double digit growth in distribution revenue at our national networks, highlighting the growing demand for our content and our brands. Our performance in the quarter, both financially and creatively is reflection of our continued focus on a few key areas, creating some of the most popular and credit -- claimed content in all of entertainment, increasing our distribution by offering a great programing at a low wholesale rate and diversifying our business in multiple ways that are positioning us to achieve meaningful long term growth.

This central strategy has been behind our steady transition over the last 10 years from being what was a US focus cable channel company to what is today diversified global content company. This transition has enabled us to find multiple new paths to monetization that now increasingly include content sales, as well