Q3 Net Earnings Up For Astral Media
July 12, 2012 at 5:36 AM (PT)
ASTRAL MEDIA has reported its financial results for the third quarter ended MAY 31st, 2012, which saw continued growth in net earnings, EPS, EBITDA and cash flow from operations.
For the third quarter, consolidated net earnings grew by 7% to $56.2 million from $52.6 million for the same period last year, while diluted earnings per share grew 9% to $1.00 from $0.92 per share last year. Consolidated revenues for the third quarter totaled $265.5 million, a 1% decrease over the $268.0 million recorded last year for the same period. EBITDA rose by 2% to $89.2 million from $87.8 million for the same period last year. Cash flow from operations rose by 2% to $68.7 million for the third quarter compared to $67.3 million for the corresponding period last year.
"I am pleased by the third quarter results announced today and by ASTRAL's ability to continue to achieve a strong performance in spite of the challenging advertising market in which we operate," said Pres./CEO IAN GREENBERG. "Our relentless focus on maintaining our operational margins, commitment towards new product development and innovation, and optimal treasury management practices, enabled us to deliver another strong quarter of earnings growth."