Central European Media Enterprises Ltd. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, the company reported net revenue of USD 119,431,000 which is 11% increase at actual rate as compared to USD 107,527,000 for the same period last year. Operating income was USD 16,022,000 compared to USD 11,450,000 a year ago. Income before tax was USD 1,212,000 as compared to loss of USD 10,624,000 for the same period last year. Loss from continuing operations was USD 1,945,000 compared to USD 11,769,000 a year ago. Net loss attributable to CME Ltd. was USD 7,745,000 as compared to USD 19,627,000 for the same period last year. Net loss per share basic and diluted attributable to CME Ltd. was USD 0.07 as compared to USD 0.14 for the same period last year. OIBDA was USD 25,145,000 compared to USD 19,324,000 for the same period last year. Loss from continuing operations per share – basic and diluted was USD 0.03 against USD 0.09 a year ago.

For the nine months, the company reported net revenue of USD 378,058,000 compared to USD 356,147,000 for the same period last year. Operating income was USD 72,199,000 compared to USD 60,071,000 a year ago. Income before tax was USD 30,108,000 as compared to loss of USD 179,089,000 for the same period last year. Income from continuing operations was USD 17,338,000 compared to loss of USD 185,795,000 a year ago. Net income attributable to CME Ltd. was USD 9,125,000 as compared to loss of USD 201,379,000 for the same period last year. Net loss per share basic and diluted attributable to CME Ltd. was USD 0.02 as compared to USD 1.42 for the same period last year. Net cash generated from continuing operating activities were USD 90,638,000 as compared to USD 56,972,000 for the same period last year. OIBDA was USD 97,893,000 compared to USD 83,452,000 for the same period last year. Income from continuing operations per share –diluted was USD 0.03 against loss of USD 1.31 per basic and diluted share a year ago. Capital expenditures, net of proceeds from disposals were USD 16,250,000 against USD 14,762,000 a year ago. Free cash flow was USD 74,388,000 against USD 42,210,000 a year ago.

Based on the strength of these results, the company is raising guidance and now believe that continuing operations will deliver full year OIBDA growth at constant rates in the upper half of the mid-teen range guided towards last quarter. Based on current FX rates, the company will finish the year with OIBDA between USD 162 million and USD 165 million. So with the benefit of that FX, that would be as much as 20% higher than the USD 137 million of OIBDA from continuing operations in 2016. The company is also increasing guidance for full year unlevered free cash flow from continuing operations and now anticipates it will be at the high end of previous range of USD 105 million to USD 110 million at actual rates. The company expects cash paid for interest and guarantee fees in 2018 will be less than USD 40 million.