Corus Consolidated Revenue Rises 11%
October 23, 2014 at 4:19 AM (PT)
CORUS ENTERTAINMENT INC. released its fourth-quarter and year-end financial results today. The highlights:
- Consolidated revenues up 11% for the quarter and for the fiscal year
- Consolidated segment profit up 15% for the quarter and for the fiscal year
- Net income attributable to shareholders of $150.4 million, down 6% for the fiscal year
- Adjusted net income attributable to shareholders of $150.3 million, up 8% for the fiscal year
- Adjusted basic earnings per share of $1.77 per share, up 7% for the fiscal year
- Free cash flow of $175.3 million, up 13% for the fiscal year
"In fiscal 2014, with the successful integration of our newly acquired assets, CORUS delivered double-digit revenue and segment profit growth, matching our best ever earnings and margin performance. These acquisitions were immediately accretive to earnings per share and contributed to our record-setting free cash flow in the year, significantly enhancing shareholder value," said Pres./CEO JOHN CASSADAY. "Looking ahead, although we have lowered our segment profit guidance for fiscal 2015, we are encouraged that with the recent repositioning of key large market Radio stations, ongoing ratings strength on our core TV networks and our entry into new markets, we are well positioned to deliver growth and increase the value of our strong brands."
Corus Declares Monthly Dividend For Class A And Class B Shareholders
The company also announced TODAY (10/23) that its Board of Directors has declared monthly dividends of $0.090417 per Class A Share and $0.090833 per Class B Share payable on each of NOVEMBER 28th, 2014, DECEMBER 30th, 2014 and JANUARY 30th, 2015 to shareholders of record at the close of business on NOVEMBER 14th, 2014, DECEMBER 15th, 2014 and JANUARY 15th, 2015, respectively.