Corus Radio Revenues Fall In Q2, But Profits Rise
April 12, 2012 at 4:32 AM (PT)
CORUS ENTERTAINMENT fiscal second-quarter overall revenues rose 8% to C$205,683,000, but radio revenues fell 1% to C$42.384 million. Radio segment profit rose 2% to C$9.879 million, contributing to an overall segment profit increase of 4% to C$62.247 million and a 16% rise in net income attributable to shareholders from continuing operations to C$31.571 million (34 to 38 cents/share).
"We are delighted with our second quarter results as we continued to grow our revenue and net income, despite a challenging ad sales environment," said Pres./CEO JOHN CASSADAY. "Our portfolio of women's brands delivered double digit ad growth, and our Kids business continued to grow on the strength of our BEYBLADE sales. Our radio business also experienced a return to growth in the quarter. The introduction of ABC SPARK in MARCH represents another exciting growth opportunity for CORUS, and expands on our relationship with DISNEY."
CORUS' board also declared monthly dividends of $0.079583 per Class A Share and $0.08 per Class B Share payable on each of MAY 31st, 2012, JUNE 29th, 2012 and JULY 31st, 2012 to shareholders of record at the close of business on MAY 15th, 2012, JUNE 15th, 2012 and JULY 16th, 2012 respectively.