Newcap Sees Revenue, Income Rise In Q1
May 5, 2010 at 11:20 AM (PT)
NEWCAP first-quarter revenue rose 13% to C$25.7 million, attributed to organic same station growth. Growth was 8% in Western CANADA, 38% in Central CANADA and 16% in Atlantic CANADA. The Canadian media company saw net income jump 124% year-to-year to C$1.2 million.
"Local revenue has continued to drive our success and we are very pleased to see a rebound in national advertising. Both local and national advertising revenue grew over 2009 by 14% which is significantly higher than industry results", said Pres./CEO ROB STEELE. "Our realigned strategy to narrow our focus on maximizing existing operations and paying down debt has solidified our financial position and we are well positioned for future growth."