RSS iconTwitter iconFacebook icon

TrekToday title image

TrekToday - Viacom Posts Fourth-Quarter Loss

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.

Discuss this news item at Trek BBS!
XML Add TrekToday RSS feed to your news reader or My Yahoo!
Also a CSI: Crime Scene Investigation fan? Then visit CSIFiles.com!

Find more episode info in the Episode Guide.