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Thursday, March 20, 2014 12:39:59 AM
NEW YORK--(BUSINESS WIRE)--New Media Investment Group Inc. (NYSE:NEWM; “New Media” or the “Company”) today reported its financial results for the quarter and full year ended December 29, 2013.
Same Store Results
Same store results, a non-GAAP financial measure, take into account acquisitions and divestitures of the Company by adjusting prior year performance to include or exclude financial results as if the Company had owned or divested a business for the comparable period.
2013 Fourth Quarter Highlights:
• Total Revenue of $160.4 million
• Net Income of $955.4 million
• As Adjusted EBITDA of $34.1 million, an increase of 11.3% on a same store basis
• Digital Revenue of $13.4 million, an increase of 11.9% on a same store basis
• Propel Marketing (“Propel”) contributed $2.1 million to Digital Revenue
• Operating Expenses decreased $9.9 million, or 7.3% on a same store basis
• Distributable Cash Flow per share of $0.90, using pro forma interest and debt amortization for the new capital structure
2013 Annual Highlights:
• Total Revenue of $516.5 million
• Net Income of $794.6 million
• As Adjusted EBITDA was $79.1 million, a decrease of 11.5% on a same store basis
• Digital Revenue of $48.6 million, an increase of 15.3% on a same store basis
• Propel contributed $6.4 million to Digital Revenue
• Operating Expenses decreased $15.9 million, or 3.5% on a same store basis
• Distributable Cash Flow per share of $2.17, using pro forma interest and debt amortization for the new capital structure, and assuming a full year of results for Local Media Group
http://www.businesswire.com/news/home/20140319005583/en/Media-Announces-Fourth-Quarter-2013-Annual-Results#.UypxH61OWUk
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