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Despite 'Challenged' Radio Revenues, Corus Posts An 11% Q2 Rise
April 10, 2014 at 5:11 AM (PT)
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CORUS ENTERTAINMENT has released its second quarter financial results TODAY (4/10). The highlights:
- Consolidated revenue up 11% for the quarter and 9% year-to-date
- Consolidated segment profit up 16% for the quarter and 12% year-to-date
- Adjusted net income attributable to shareholders of $26.8 million, up 10% in the quarter
- Adjusted basic earnings per share attributable to shareholders of $0.32 per share, up 10% in the quarter
- Free cash flow of $123.0 million year-to-date
"We are already beginning to realize benefits from the integration of our newly acquired services; HISTORIA, SÉRIES+ and TELETOON. In the second quarter, our acquisitions drove significant segment profit and margin growth in our Television business, delivering immediately accretive earnings per share and free cash flow," said Pres./CEO JOHN CASSADAY. "While our merchandising business faced tough year-over-year comparables in the quarter and Radio continues to be challenged, we are excited about the opportunities that our newly acquired assets, combined with the continued strength of our core brands, bring to the business."

