RPT-EARNINS POLL-CME seen swinging into $2.1 mln profit in Q1

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* May 3, before 3:30 p.m. (1430 GMT)

* Average net profit forecast of $2.1 million

By Jan Korselt

Television broadcaster CME likely swung into a profit in the first quarter on the recovery of its Czech operation and lower currency losses, a Reuters poll showed on Friday.

Central European Media Enterprises (CME) was forecast to post a $2.1 million net profit after a loss of $18.3 million in the first quarter of 2006, according to the average estimate of seven analysts polled in the survey.

Segment EBITDA -- showing profits before interest, tax, depreciation, amortisation and some other expenses -- was expected to have jumped 36.9 percent to $46.8 million.

Revenues likely grew by 21 percent to $144.8 million, according to the average forecast of eight analysts in the poll.

The main driver should be a recovery of Czech TV station Nova that won back market share after pricing changes held back its performance in early 2006.

Analyst Lukas Dufek of Komercni Banka predicted revenues in the Czech Republic would jump by 50 percent year-on-year in the first three months.

"Growth dynamics will be very strong and could provide some support for the stock; nevertheless, the improved outlook for Czech operations is already mostly priced in CME's high current share price," Dufek said.

CME stock was up 0.55 percent at $90.94 on Nasdaq by 1510 GMT, slightly down from an all-time high of $91.84 reached on Thursday.

Following is a summary of analyst expectations (figures in $ million): Q1 Average Median Q1/06 Range REVENUES 144.8 144.2 119.8 136.0-151.2 SEGMENT EBITDA 46.8 46.8 34.4 43.9- 49.0 OPERATING PROFIT 25.0 25.7 16.2 20.4- 30.0 NET PROFIT

2.1 2.6 -18.3 -5.1- 12.0

NOTE: Seven analysts gave forecasts for net profit and segment EBITDA. Eight analysts predicted revenues and operating profit.

The following banks and brokerages took part in the poll:

Atlantik FT, BH-Securities, Cyrrus, Deutsche Bank, Erste Bank/Ceska Sporitelna, KBC Securities/Patria Finance, Komercni Banka, Wood & Company.

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Keywords: MEDIA CME/

[PRAGUE/Reuters/Finance.cz]