In last year's first-quarter period, the company -- parent of CBS, MTV, Nickelodeon, UPN, and Paramount Studios -- had a net loss of $384.3 million. The loses were due to Viacom's acquisition of CBS.
In a conference call with analysts, Viacom's president and chief operating officer, Mel Karmazin, said the company remained confident it could deliver a 20% increase in cash flow or $6.2 billion, though the possible impact of two Hollywood strikes and a possible weaker advertising market could affect up to 5% of its annual pre-tax earnings.
Viacom posted a 15% increase in cash flow -- earnings before interest, tax and depreciation -- to $1.15 billion from $1 billion a year ago, as all of its business segments except radio broadcasting showed improvements over last year. -- Wayne Friedman
Copyright April 2001, Crain Communications Inc.