Corus Sees Revenues Rise In Fiscal Q4
October 27, 2010 at 11:59 AM (PT)
CORUS ENTERTAINMENT fiscal fourth quarter 2010 radio revenue rose 6% to C$62.934 million, helping overall revenues rise 4% to C$202,789 for the quarter. Net income fell from C$18.733 million to C$6.812 million (23 to 8 cents/share); 2010's figure included restructuring charges of $12.9 million (10 cents/share) and a radio tariff accrual of $7.9 million (6 cents/share).
"The advertising recovery continued in the fourth quarter, particularly for our Specialty assets. This continues a trend we have seen for three successive quarters," said JOHN CASSADAY, Pres./CEO. "We have also seen a return to growth in western CANADA radio markets. CORUS is well positioned to meet its guidance once again for fiscal 2011. Ad markets continue to track well and we will benefit from our investment in technology at our newly opened CORUS QUAY facilities at TORONTO’s waterfront."
The cpmpany also boosted its annual dividend C15 cents to 75 cents for Class B shares, starting with NOVEMBER 30th's payment