Viacom Posts Fourth-Quarter Loss By Christian
February 15, 2002 - 8:57 PM

Viacom, the company responsible for producing and airing the Star Trek franchise, on Wednesday announced it had lost $42.5 million during the fourth quarter of 2001. A year ago the company still made a profit of $30.4 million.

The loss was mainly the result of the current advertising slump, causing revenues to fall from $6.36 billion last year to $6.04 billion this year. In addition, the company faced extra one-time costs of $53 million after its recent decision to integrate Enterprise network UPN with CBS. Analysts were happy with the results, which were ahead of expectations, and Viacom stock has won more than 2% since the results were announced.

Over the entire year, Viacom posted a net loss of $223.5 million, which is down from the $816.1 million it posted in 2000, when it faced massive one-time charges because of the merger with CBS.

Together with its earnings report, Viacom also made several other company announcements:

Viacom's full earnings announcement can be found in this PR Newswire press release.

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