Newcap Sees Revenues Rise In Q3
November 9, 2012 at 4:04 PM (PT)
NEWCAP third-quarter revenue rose 6% to C$33.7 million, credited to a combination of organic growth and additional revenue from the addition of stations in BRITISH COLUMBIA. EBITDA increased 3% to C$8.9 million, but the company posted a loss of $1.1 million in the quarter compared to profit of $4.3 million in 2011, due to a C$7.5 million non-cash impairment charge related to CTV affiliate CITL-DT/LLOYDMINSTER, AB recognized in this year's third quarter.
"We are very pleased that positive revenue growth has continued into the third quarter. We see some softening in that trend heading into the fourth quarter" said Pres./CEO ROB STEELE. "We are focusing our attention on managing costs to deliver solid EBITDA results for 2012."