Newcap Q2 Revenue, Income Rise
August 8, 2008 at 5:27 AM (PT)
NEWCAP second-quarter revenue grew 5% to C$27.4 million, with net income rising C$0.6 million to C$6.4 million (53 to 58 cents/share). Growth in the company's OTTAWA and ALBERTA markets were credited by the company with much of the growth.
"We are making significant efforts to improve results in EDMONTON and CALGARY, ALBERTA. We were extremely pleased to see in the JULY ratings that our overall market share in these two cities has increased. This is a very important achievement for us and demonstrates our ability to focus our efforts on increasing listenership," said Pres./CEO ROB STEELE. "And while we continue to grow the company organically, we remain focused on expansion plans as evidenced by our recent acquisition announcements and new station launches."
The company also declared a dividend of 15 cents/share.