Corus Radio Revenues Rise, Overall Revs Drop In Fiscal Q1 2013
January 15, 2013 at 5:39 AM (PT)
CORUS ENTERTAINMENT fiscal 2013 first quarter consolidated revenues fell 5% to C$226.1 million, with net income attributable to shareholders up 3% to C$52.2 million (63 cents basic and 62 cents diluted per share). Radio revenues rose 1% to C$52.3 million, with segment profit up 16% to C$19 million.
“CORUS has delivered a solid first quarter, achieving doubleâ€digit segment profit growth in Radio, strong Women’s advertising sales, subscriber gains on Pay television and continued success in controlling costs, which was partially offset by soft results in our Kids business,” said Pres./CEO JOHN CASSADAY. “Looking ahead, we expect our strong ratings momentum on OPRAH WINFREY NETWORK, ABC SPARK and NICKELODEON will contribute to revenue growth as the fiscal year progresses.”
The company raised its dividend by 6.25%, with Class A shares earning a dividend of C$1.015 (8.4583 cents monthly) and Class B shares getting C$1.02 (8.5 cents/month), both payable FEBRUARY 28th, MARCH 28th, and APRIL 30th to shareholders of record as of FEBRUARY 14th, MARCH 14th and APRIL 15th, respectively.