Corus Radio Revenues Rise For Fiscal Q4, 2008
October 23, 2008 at 3:44 PM (PT)
CORUS ENTERTAINMENT fiscal fourth quarter consolidated revenues fell 1% to C$185.8 million, with net income off from C$21.2 million to C$17.4 million (25 to 21 cents/basic and diluted share) year-to-year. Radio revenues rose 3% to C$68.5 million, with segment profit falling 13% to C$15.1 million.
For fiscal 2008, revenues rose 2% to C$787.2 million, with net income up from C$107 million to C$12.98 million (C$1.27 basic/C$1.23 diluted per share to C$1.57 basic/$1.54 diluted per share). Radio revenues rose 4% for the year to C$286.4 million, with segment profit up 32% to C$7.2 million.
"CORUS had a strong 2008, growing our revenues and profits as our core businesses continued to perform well," said President and CEO JOHN CASSADAY. "We have confidence in our continued growth, particularly within specialty and pay TV with the addition of COSMOPOLITAN TV, VIVA and HBO CANADA to our portfolio."
"We are proud of our fiscal 2008 results," said Executive Chair HEATHER SHAW. "Strong operating results, a 20% dividend increase, our share-buybacks and our upcoming Dividend Reinvestment Plan (DRIP) have provided solid value to our shareholders."
CORUS has also declared monthly dividends of C$0.049585 per Class A share and C$0.05 per Class B share payable on each of NOVEMBER 28, 2008, DECEMBER 31, 2008 and JANUARY 30, 2009 to shareholders of record at the close of business on NOVEMBER 13, 2008, DECEMBER 15, 2008 and JANUARY 15, 2009 respectively.