* Q3 net loss $38.5 mln vs $16.4 mln profit in Q3 '11
* Adjusted net income down 8 pct yr/yr to $27.5 mln
* Revenues rise 2 pct to $162 mln
* Confirms FY underlying profitability guidance
MOSCOW, Nov 7 Russian broadcaster CTC Media
reported a $38.5 million net loss for the third quarter
compared to a year-ago profit of $16.4 million, hit by one-off
Russia's biggest non-state controlled broadcaster said net
profit, adjusted for the one-off charges related to the planned
shift from analog to digital broadcasting, totalled $27.5
million, or $0.17 per share, against $29.9 million and $0.19
respectively in the third quarter of 2011.
Revenue rose 2 percent to $162 million to be up 12 percent
in rouble terms, driven by an 11 percent rise in the group's
Russian advertising sales, it said.
"Our underlying profitability remains strong. We continue to
expect OIBDA margin at or around 30 percent for the full year,"
Boris Podolsky, the chief executive officer of CTC Media, said
in a statement.
CTC said its new shows, such as sitcom 'Kitchen' launched
recently to help reverse declines in its audience share, proved
to be successful.
CTC also reported an operating loss before depreciation and
amortisation of $39.1 million, while adjusted OIBDA (operating
income before depreciation and amortisation) fell 10 percent to
$43.4 million for a 26.8 percent margin.
CTC is part-owned by Sweden's Modern Times Group,
and private media company National Media Group, after its
subsidiary Telcrest Investments bought out Russian billionaire
Mikhail Fridman's Alfa Group last year.