Astral Q1 Earnings Jump
January 14, 2008 at 5:29 AM (PT)
ASTRAL MEDIA fiscal first quarter 2008 consolidated net earnings jumped 15% to C$37.5 million (69 cents/share) on revenues of C$198.7 million, up 20%. The addition of the newly-acquired STANDARD RADIO operations sent radio revenue soaring 58% and division EBITDA up 68%.
"We are very pleased with the Company’s results for the first quarter of Fiscal 2008, which are another illustration of ASTRAL MEDIA's ability to sustain growth both organically and through strategic acquisitions," said Pres./CEO IAN GREENBERG. "We are delighted once again by the fact that all our business units contributed in a significant manner to an excellent start in Fiscal 2008. ASTRAL MEDIA's unique asset mix and its new pan-Canadian footprint allows for this kind of performance."