Warner Music Group Posts Loss In Q1; Declares Dividend - Quick Facts

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(RTTNews) - Warner Music Group Corp. (WMG | news | PowerRating | PR Charts ) reported first quarter net loss of $16 million, or $0.11 per diluted share, including the $18 million or $0.12 per share impairment charge. Net income in the prior-year quarter was $18 million or $0.12 per diluted share.

Quarterly revenue rose 6.6% to $989 million from $928 million in the prior-year quarter, and rose 0.7% on a constant-currency basis.

Analysts polled by First Call/Thomson Financial expected the company to report earnings for the quarter of $0.10 per share on $948.86 million revenue.

Operating income for the quarter declined 45% to $44 million from $80 million in the prior-year quarter.

The company's board declared a regular quarterly dividend of $0.13 per share of common stock, which is payable on February 29, 2008 to stockholders of record as of the close of business on February 21, 2008.

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