MSG Networks Inc. reported unaudited consolidated earnings results for the second quarter and six months ended of December 31, 2017. For the quarter, the company reported revenues of $181,222,000 compared to $175,646,000 a year ago. Operating income was $75,586,000 compared to $80,145,000 a year ago. Income from continuing operations before income taxes was $65,936,000 compared to $70,734,000 a year ago. Income from continuing operations was $155,568,000 compared to $43,255,000 a year ago. Net income was $155,568,000 compared to $43,255,000 a year ago. Diluted net income per share was $2.05 compared to $0.57 a year ago. Adjusted operating income was $82,807,000 compared to $85,998,000 a year ago decreased 4%, or $3.2 million, as compared with the prior year period, primarily due to the increase in direct operating expenses, partially offset by the increase in revenues.

For the six months, the company reported revenues of $338,678,000 compared to $329,224,000 a year ago. Operating income was $151,939,000 compared to $155,072,000 a year ago. Income from continuing operations before income taxes was $132,117,000 compared to $136,353,000 a year ago. Income from continuing operations was $196,725,000 compared to $83,616,000 a year ago. Net income was $196,725,000 compared to $83,496,000 a year ago. Diluted net income per share was $2.60 compared to $1.11 a year ago. Adjusted operating income was $164,532,000 compared to $165,279,000 a year ago. Net cash provided by operating activities from continuing operations was $101,972,000 compared to $101,024,000 a year ago. Free cash flow was $101,101,000 compared to $98,702,000 a year ago. Net debt was $1,081,835,000. Capital expenditures were $871,000 compared to $2,242,000 a year ago.

For calendar year 2018, the company expects to get the full benefit of the 21% tax rate in terms of the payments that it generates. The company would expects at least a 20% reduction in cash taxes on a go-forward basis.