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Madison Square Garden Inc. Reports Operating Results (10-Q)

February 08, 2012 | About:
10qk

10qk

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Madison Square Garden Inc. (MSG) filed Quarterly Report for the period ended 2011-12-31.

The Madison Square Garden Company has a market cap of $1.85 billion; its shares were traded at around $30.15 with a P/E ratio of 28.1 and P/S ratio of 7.9.

Highlight of Business Operations:

AOCF for the three months ended December 31, 2011 increased $11,846, or 23%, to $63,555 as compared to the comparable period of the prior year primarily driven by lower direct operating and selling, general and administrative expenses partially offset by a decline in revenues, as discussed above.

Increase due to the absence of the Knicks recording its estimated share of luxury tax proceeds from tax-paying teams during the three months ended December 31, 2010 of $833 and higher net NHL and NBA revenue sharing expense of $549

AOCF for the six months ended December 31, 2011 increased $19,996, or 19%, to $127,371 as compared to the comparable period of the prior year primarily driven by lower direct operating and selling, general and administrative expenses partially offset by a decline in revenues, as discussed above.

Increase due to the absence of the Knicks recording its estimated share of luxury tax proceeds from tax-paying teams during the six months ended December 31, 2010 of $833 and higher net NHL and NBA revenue sharing expense of $806

The increase resulting from changes in assets and liabilities was primarily due to increases during the six months ended December 31, 2011 in deferred revenue and accrued and other liabilities of $76,078 and $38,742, respectively, as compared to increases of $20,270 and $4,821, respectively, during the comparable period of the prior year, as well as an increase during the six months ended December 31, 2011 in accounts payable of $14,436 as compared to an increase of $5,740 during the comparable period of the prior year. These items were partially offset by an increase during the six months ended December 31, 2011 in prepaid expenses and other assets of $29,598 as compared to a decrease of $8,483 during the comparable period of the prior year and an increase during the six months ended December 31, 2011 in deferred income taxes of $3,504 as compared to an increase of $16,239 during the comparable period of the prior year.

Read the The complete Report

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