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Strong AOCF and operating income growth for the second quarter versus the prior year period
Fiscal 2016 second quarter revenue of $410.8 million
Fiscal 2016 second quarter AOCF of $82.1 million
Fiscal 2016 second quarter operating income of $49.0 million

NEW YORK, Feb. 04, 2016 (GLOBE NEWSWIRE) — The Madison Square Garden Company (NYSE:MSG) today reported financial results for the second quarter ended December 31, 2015. 

On September 30, 2015, The Madison Square Garden Company completed its spin-off from MSG Networks Inc.  The fiscal 2016 second quarter is the first period that reflects the Company’s financial results on a standalone basis, including the Company’s actual corporate general and administrative costs.

Reported results for the fiscal 2015 second quarter are presented as the combined results of the sports and entertainment businesses, which, prior to the completion of the spin-off, had been consolidated with MSG Networks Inc.  Please note that results for the fiscal 2015 second quarter reflect the allocation of corporate general and administrative costs based on accounting requirements for the preparation of carve-out financial statements.  As a result, fiscal 2015 second quarter results do not reflect all of the actual expenses that the Company would have incurred had it been a standalone public company for that quarter.

On a reported basis, fiscal 2016 second quarter revenues of $410.8 million grew 4%, adjusted operating cash flow (“AOCF”)(1) of $82.1 million increased 18%, and operating income of $49.0 million increased 23%, all as compared to the prior year period. 

President and CEO David O’Connor said, “For the fiscal second quarter, we generated strong top-line and AOCF results driven by the New York Knicks and Rangers, a successful run of the Radio City Christmas Spectacular and our continued ability to attract an exciting and diverse array of artists and events to our venues.  As we look ahead, we remain focused on delivering excellence across our operations, while executing on our plans for growth and long-term value creation.”

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