OREANDA-NEWS. On April 27, 2007 CTC Media, Inc. (NASDAQ: CTCM), a leading television broadcaster in Russia, reported financial results for the three-month period ended March 31, 2007, reported the press-centre of CTC Media. Alexander Rodnyansky, Chief Executive Officer, stated, “Our results were once again in line with our expectations and demonstrate the continued growth of our networks and the overall Russian television market, as well as the efficiency of our business model. CTC and Domashny are delivering their younger targeted demographics to advertisers and have improved their market share each month during the quarter.


“We are particularly pleased with the performance of the Domashny Network which is demonstrating impressive increases in audience share and revenues. Revenues of our Domashny Network and stations doubled compared to first quarter 2006 reaching $11,7 million on the back of a 46% increase in audience share and robust market growth. Our revenue and OIBDA growth remains robust, despite comparisons against an exceptionally strong year ago period. Our programming strategy is on track and we are very optimistic about the launch of several exciting premieres in different timeslots this year. Given our strong brands, experienced management team and solid balance sheet, we are well positioned to continue to capitalize on the rapidly expanding Russian television advertising market”.

Results for the Three Months Ended March 31, 2007
CTC Media’s total operating revenue for the three months ended March 31, 2007 increased 31,4% to $104,1 million from $79,2 million for the three months ended March 31, 2006. The revenue growth primarily reflects the continued growth of the Russian television advertising market and CTC’s ability to deliver target audiences to advertisers.
CTC Network’s audience share was 9,3% for the first quarter of 2007. Last year’s first quarter audience share of 10,8% was largely driven by the extraordinary success of the “Born Not Pretty” series. CTC remains the fourth most watched broadcaster in Russia overall. Domashny’s audience share grew from 1,3% for the three months ended March 31, 2006, to 1,9% for the three months ended March 31, 2007. As a result, CTC Media’s combined audience share was 11,2% in the first quarter of 2007 as compared to 12,1% in the first quarter of 2006.
Consolidated total operating expenses in the first quarter of 2007 increased by 42,1% to $65,6 million compared to $46,2 million in the first quarter of 2006. The increase in total operating expenses in absolute terms was primarily driven by an increase in amortization of programming and sublicensing rights expenses, and increases in selling, general and administrative costs, that included $3,0 million of stock-based compensation expense and increased promotional costs.
OIBDA increased 20,3% to $44,3 million for the first quarter of 2007 compared to $36,8 million in the first quarter of 2006.
Operating income for the quarter was $38,5 million compared to $33,1 million for the three months ended March 31, 2006, an increase of 16,5%.
Net income for the quarter was $28,1 million compared to $22,7 million for the three months ended March 31, 2006. Diluted income per share was $0,18 for the three months ended March 31, 2007, compared to $0,15 for the three months ended March 31, 2006.
All figures included in this press release are unaudited.

For the full year ending December 31, 2007, the Company reconfirms its guidance for consolidated total operating revenue in the range of $460 to $500 million, with a consolidated OIBDA margin in the range of 45-48%.