Newcap Q3 Revenues Fall, Income Grows
November 9, 2009 at 4:26 AM (PT)
NEWCAP third quarter revenue fell 3% to C$25.4 million year-to-year, but the company moved from a loss of C$7.6 million (69 cents/share) in 2008's third quarter to a gain of C$6.2 million (56 cents/share) this year. The gain included C$5 million from a swap of stations with ROGERS that gave NEWCAP CIGM-A/SUDBURY (now on FM) in exchange for CFDR-A/HALIFAX (also now on FM).
In its report, the company noted that revenue for third quarter was "particularly slow compared to the first six months of 2009."