Corus Revenues Up For Fiscal Second Quarter 2016, But Radio Drops
April 13, 2016 at 4:46 AM (PT)
CORUS ENTERTAINMENT Fiscal 2016 second-quarter consolidated revenues rose 3% to C$197,705,000, but radio revenue dropped 6% for the quarter to $34,273,000. Net income attributable to shareholders increased from a loss of C$86,786,000 to a gain of C$102,232,000 (-C$1.01 to +C$1.17/share), and adjusted net income attributable to shareholders fell from C$28,499,000 to C$20.944,000. The 2015 net loss included a C$130 million impairment charge for radio broadcast licenses and goodwill.
"We have delivered revenue and segment profit growth for the second consecutive quarter, driven by the launch of new specialty television services and digital distribution revenues," said President/CEO DOUG MURPHY. "With the completion of our transformational acquisition of SHAW MEDIA on APRIL 1st, we are fully focused on quickly integrating our operations, capturing significant synergies and unlocking the future growth potential of these powerful media assets."
The company's board also declared monthly dividends of C$0.094583 per Class A Share and C$0.095 per Class B Share, payable on each of MAY 31st, JUNE 30th, and JULY 29th to shareholders of record on MAY 16th, JUNE 15th and JULY 15th, respectively.