Investor Relations

Financial Highlights

WWE (NYSE - WWE)

Trend Analysis--Quarterly (click here for Annual Analysis)

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Balance Sheet ($000)
	2013 Q1	2012 Q1	Y-Y Ch (%)	2012 Q4	Q-Q Ch (%)^†
Cash and Cash Equivalents	46,278	60,469	(23.47)	66,048	(119.73)
Current Assets	221,500	245,251	(9.68)	234,532	(22.23)
Net PP&E	102,170	102,004	0.16	102,162	0.03
Intangible Assets	-	-	NA	-	NA
Total Assets	365,907	388,728	(5.87)	381,383	(16.23)
Short-term and Current Long-term Debt	0	1,314	NM	0	0.00
Current Liabilities	66,646	74,361	(10.38)	77,565	(56.31)
Long-term Debt	0	0	0.00	0	0.00
Total Liabilities	75,812	85,861	(11.70)	86,657	(50.06)
Minority Interest and Mezzanine Equity	0	0	0.00	0	0.00
Equity	290,095	302,867	(4.22)	294,726	(6.29)
Total Capitalization, at Book Value	290,095	304,181	(4.63)	294,726	(6.29)

Income Statement ($000)
	2013 Q1	2012 Q1	Y-Y Ch (%)	2012 Q4	Q-Q Ch (%)^†
Telecommunications Service Revenue	0	0	0.00	0	0.00
Operating Revenue	124,001	123,068	0.76	115,100	30.93
Cost of Revenue	74,866	68,397	9.46	69,166	32.96
Reported Net Operating Income	6,072	16,041	(62.15)	2,535	558.11
Recurring Earnings before Interest and Taxes	6,072	16,041	(62.15)	2,535	558.11
Recurring EBITDA	11,304	19,959	(43.36)	8,513	131.14
Net Income before Taxes	4,823	16,544	(70.85)	2,445	389.04
Net Income before Extraordinary Items	3,034	15,331	(80.21)	633	1,517.22
Net Income	3,034	15,331	(80.21)	633	1,517.22

Cash Flow Statement Highlights
	2013 Q1	2012 Q1	Y-Y Ch (%)	2012 Q4	Q-Q Ch (%)^†
Cash Flow from Operating Activities	(5,897)	32,460	NM	22,075	NM
Cash Flow from Investing Activities	(5,158)	(15,637)	(67.01)	189	NM
Cash Flow from Financing Activities	(8,715)	(8,845)	(1.47)	(8,909)	(8.71)
Net Increase in Cash and Cash Equivalents	(19,770)	7,978	NM	13,355	NM
Recurring Levered Free Cash Flow	4,219	4,935	(14.51)	(5,673)	NM

Balance Sheet Ratios (%)
	2013 Q1	2012 Q1	Y-Y Ch (bp)	2012 Q4	Q-Q Ch (bp)
Debt/ Book Capitalization	0.00	0.43	NM	0.00	0.00
Debt/ Equity (x)	0.00	0.00	NM	0.00	0.00
Equity/ Assets	79.28	77.91	1.76	77.28	10.37
Debt and Redeemable Preferred/ Equity (x)	0.00	0.00	NM	0.00	0.00
Long-term Debt/ Book Capital	0.00	0.00	0.00	0.00	0.00
Debt and Redeemable Preferred/ Book Capital	0.00	0.43	NM	0.00	0.00
Net Debt and Preferred/ Recurring EBITDA (x)	NM	NM	NM	NM	NM

Income and Cash Flow Statement Ratios (%)
	2013 Q1	2012 Q1	Y-Y Ch (bp)	2012 Q4	Q-Q Ch (bp)
Operating Revenue Growth	0.76	2.64	(71.24)	1.91	(241.29)
Recurring EBITDA Growth	(43.36)	18.80	NM	NM	NM
Recurring Levered FCF Growth	(14.51)	(46.87)	(69.04)	NM	NM
Net Income Growth	(80.21)	78.21	NM	NM	NM
EPS Growth	(80.00)	81.82	NM	NM	NM
EPS Growth after Extra	(80.00)	81.82	NM	NM	NM
Dividend Payout Ratio	300.00	60.00	400.00	NM	NM
Dividend Payout to Recurring Levered FCF	NM	NM	NM	NM	NM

Profitability Ratios (%)
	2013 Q1	2012 Q1	Y-Y Ch (bp)	2012 Q4	Q-Q Ch (bp)
ROAA	3.25	15.98	(1,274)	0.67	258
ROAE	4.15	20.51	(1,636)	0.85	330
ROACE	4.15	20.51	(1,636)	0.85	330
Return on Invested Capital	5.86	19.74	(1,388)	0.97	489
Recurring EBITDA Margin	9.12	16.22	(710)	7.40	172
Recurring Levered FCF Margin	3.40	4.01	(61)	(4.93)	833
Recurring Levered Free Cash Flow/ Recurring EBITDA	37.32	24.73	1,260	NM	NM
Liquidity Ratios (x)
	2013 Q1	2012 Q1	Y-Y Ch (bp)	2012 Q4	Q-Q Ch (bp)
Recurring EBITDA/ Interest Expense plus Pfd	32.11	39.76	(19)	24.32	128
Recurring Unlevered FCF/ Interest Expense	12.99	10.83	20	(15.21)	NM
Cash Flow Coverage	(15.75)	65.66	NM	64.07	NM

Per Share Information ($)
	2013 Q1	2012 Q1	Y-Y Ch (%)	2012 Q4	Q-Q Ch (%)^†
Common Shares Outstanding (actual)	74,810,721	74,476,973	0.45	74,754,495	0.30
Avg Diluted Shares (actual)	75,233,000	74,815,000	0.56	75,332,000	(0.53)
Book Value	3.88	4.07	(4.64)	3.94	(6.58)
Common Dividends Declared	0.12	0.12	0.00	0.12	0.00
Basic EPS before Extra	0.04	0.21	(80.95)	0.01	1,200.00
Basic EPS after Extra	0.04	0.21	(80.95)	0.01	1,200.00
Diluted EPS before Extra	0.04	0.20	(80.00)	0.01	1,200.00
Diluted EPS after Extra	0.04	0.20	(80.00)	0.01	1,200.00
Recurring Levered FCF per Share	0.06	0.06	(13.60)	(0.09)	NM

^† Q-Q Ch(%)= most recent quarter minus prior quarter annualized e.g. [(Q4-Q3)/Q3]*4

* Percentages presented for individual quarters are annualized by taking the quarter amount and multiplying by four.


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