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WWE Reports Quarterly Results
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Business New Haven
8/5/2002
By: BNH
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STAMFORD - World Wrestling Entertainment Inc. (NYSE: WWF) has announced financial results for its fourth fiscal quarter, which ended April 30. Total revenues for the quarter increased four percent to $135.9 million from $131.1 million in Q4 of last year, attributable to increased revenues in the live and televised entertainment business segment. Total revenues for the live and televised businesses increased six percent to $105.0 million from $99.3 million in the same period a year ago. Total revenues for branded merchandise decreased approximately three percent to $30.9 million for the quarter, versus $318 million last year.
Income from continuing operations was $16 million, down from $17 million in the fourth quarter last year. Earnings per common share from continuing operations were 22 cents for the quarter.
Earnings before interest, taxes, depreciation and amortization (EBITDA) were $28.5 million versus $26.1 million last year. These included expenses of approximately $2 million associated with the company's name change to World Wrestling Entertainment Inc. Free cash flow - income from continuing operations plus depreciation and amortization less capital expenditures and payment of long-term debt - for the current quarter was $17.4 million, compared to $9.6 million in the year-ago period.
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