WWE Trims 2013 Outlook
Sep 15th 2013 6:15AM
Updated Sep 15th 2013 6:16AM
WWE has tossed some of its prior estimates for fiscal 2013 out of the ring. The company revised its full-year projections, saying that it expects operating income before depreciation and amortization of $40 million to $50 million for the period. This is notably lower than the $56.9 million to $69.5 million it previously anticipated, and the actual $62 million of fiscal 2012.
On the costs side, total capital expenditures are expected to come in at $55 million to $60 million, compared with a total of $31 million for 2012. Around 60% will be a one-time expense to replace the firm's corporate jet.
In the press release detailing the new figures, the company quoted its CFO George Barrios as saying that "our revised 2013 Outlook reflects a relatively moderate change in our second half revenue expectations and our continued investment in the WWE brand and our content."
He added that this investment activity is positioning the firm to take advantage of "the rising value of content in the market place."
WWE's fiscal 2013 ends on Dec. 31.
The article WWE Trims 2013 Outlook originally appeared on Fool.com.Fool contributor Eric Volkman owns shares of World Wrestling Entertainment. The Motley Fool does not. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.