WWE announced revenues totaling $483.9 million for 2011, compared to $477.7 million the prior year. Operating income came in at $37 million, down from $82.3 million last year. WWE announced total revenue for $112.9 million for the fourth quarter of 2011, compared to $122.5 million in the prior year quarter.

“In 2011, we evaluated several paths for creating new programs and distributing all of our content in a way that optimizes its value, Vince McMahon said in a press release. "Executing this strategy effectively, including the potential creation of a WWE Network, has the power to transform our business. 

"While we made significant progress toward this objective, our fourth quarter and full year results were impacted primarily by three items: significant non-cash film impairment charges stemming from the weak performance of our movie releases, strategic decisions to withhold several hours of previously licensed television content for distribution on other platforms, and initial start-up operating expenses associated with our emerging content and distribution strategy.

"Regarding the first item, we have taken several measures to improve the profitability of our movie business. And, regarding the other items, we believe that our ongoing investment to expand and maximize the value of our content is the most potent approach for driving our future earnings." To read the full financial report, visit ir.corporate.wwe.com/file.aspx?IID=4121687&FID=12752661.

Powell's POV: I'm looking forward to listening to Vince McMahon discuss the numbers and, more importantly, the WWE Network during today's conference call. The company never officially announced a network start date, but this will be the first time he will publicly comment on the network since the internal decision was made to push the launch date back from April 1 to the fall. The call is scheduled to begin at 10 a.m. CT.

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