Astral Media Fiscal Q4 Revenues Rise
October 27, 2010 at 5:13 PM (PT)
Canadian media group ASTRAL MEDIA saw fiscal fourth-quarter 2010 consolidated revenues grow 9% year-to-year to C$238.4 million, with net earnings up 2% to C$45.1 million (80 cents/share). Radio division revenues grew 7% for the quarter and 3% for the year. The numbers included a C$9.7 million expense in fourth quarter 2010 for the Copyright Board's tariff increases retroactive to JANUARY 2008.
"I am particularly pleased with the results delivered by each of our business units in Fiscal 2010 and by their strong performance to finish the year," said President and CEO IAN GREENBERG. "The fourth quarter showed encouraging signs of recovery for Canadian advertising markets, positively affecting all our business segments and building momentum as we enter the new fiscal year."