The following was issued by WWE today:
WWE? Reports 2009 Second Quarter Results
STAMFORD, Conn., August 6, 2009 – World Wrestling Entertainment, Inc. (NYSE:WWE) today announced financial results for its second quarter ended June 30, 2009. Revenues totaled $138.8 million as compared to $129.7 million in the prior year quarter. Operating income was $28.1 million as compared to $12.0 million in the prior year quarter. Net income was $19.9 million, or $0.27 per share, as compared to $7.0 million, or $0.10 per share, in the prior year quarter.
?WWE has performed relatively well so far this year, more than doubling operating income for the quarter and driving a 15% increase for the first half of the year? stated Linda McMahon, Chief Executive Officer. ?Our work to improve operating efficiency resulted in a dramatic increase in profit margins that has more than offset the softness in revenues from a weak economy and adverse consumer trends. These efforts were exemplified by the performance of WrestleMania? XXV, where we also managed to more than double our profits from the prior year.?
?We expect continuing economic uncertainty in the back half of the year. However, we believe that the strategic decisions we have made, and our ongoing commitment to manage operating costs, position us well to maximize the financial potential of our global brands.?
Comparability of Results
The results for our premiere pay-per-view event, WrestleMania XXV, occurred in Q2 2009 as compared to Q1 2008 for WrestleMania XXIV. WrestleMania XXV contributed in aggregate approximately $32.2 million of revenues and $15.0 million of profit contribution ($9.7 million, net of tax) and $0.13 of EPS from across our various business lines. WrestleMania XXIV contributed approximately $31.3 million of revenues, $7.1 million of profit contribution ($4.6 million, net of tax) and $0.06 of EPS from across our various business lines in the first quarter of 2008.
You can view the entire release (in .pdf form) at this link.