Corus net profit, revenue down in Q4

Corus Entertainment Inc. has reported a drop in fourth-quarter profits as the specialty TV channel and radio station operator also saw revenues shrink in its most recent period. Corus, controlled by the Shaw family through multiple voting shares, said its net income attributable to shareholders for the three months ended Aug. 31 was $23.3 million […]

Corus Entertainment Inc. has reported a drop in fourth-quarter profits as the specialty TV channel and radio station operator also saw revenues shrink in its most recent period.

Corus, controlled by the Shaw family through multiple voting shares, said its net income attributable to shareholders for the three months ended Aug. 31 was $23.3 million or 28 cents per diluted share.

That was down from $27.7 million or 33 cents diluted share in the same 2011 period as consolidated revenue fell to $195.6 million from $200.2 million.

Corus says adjusted earnings for the period totalled $30.2 million or 36 cents per share, up from $27.7 million or 34 cents per share.

Related
• Shaw Q4 revenue up slightly, but net income down

That met the expectations of analysts polled by Thomson Reuters who, on average, had expected adjusted earnings of 36 cents per share on slightly higher revenue of $201.8 million.

For the full year, Corus said net income attributable to shareholders was $148.7 million or $1.78 per diluted share, up from $141.5 million or $1.72 per diluted share.

Full-year consolidated revenue was also up at $842.3 million from $825.2 million.

“Corus finished the year with strong gains in specialty advertising revenues and segment profit for the fourth quarter,” president and CEO John Cassaday said of the results.

“Looking ahead, we are confident that disciplined cost controls, coupled with our portfolio of assets, position us well for continued growth in fiscal 2013,” Cassaday added.

Corus operates specialty cable channels such as the Canadian version of OWN: the Oprah Winfrey Network, Teletoon, kids’ channels YTV and Nickelodeon Canada, W Network, country music lifestyle channel CMT Canada, Sundance Channel Canada and CosmoTV.

The Shaw family, which controls the company through its multiple voting Class A shares, also controls Shaw Communications, Canada’s second-largest cable TV operator.

Corus also owns radio stations across the country and children’s animated content producer Nelvana.

Media Articles

Social Scanner: Fanta tries comedy on Vine

Plus Yo pitches brands and Wendy's goes local with its social marketing

NBA extends agreement with BBTV

New deal includes global content management and optimization

Out-of-home spending up 5.5% in first six months of 2014

Digital leads the way as advertisers look to reach always-on consumers

Vubble provides video content you didn’t know you needed

The insight behind the anti-preference algorithm

Jones Media opens Montreal office

Former Rogers sales exec Marieve Lemay to handle Eastern Canada sales

Scenic Tours hits the (air) waves with Bell Media

Luxury tour/river cruise operator will be showcased in daily weather reports on Canada AM, CTV Morning Live

Bonin Bough’s digital lessons for marketers

The Mondelēz marketer shares lessons from the front lines of digital marketing

Elle partners with Hudson’s Bay on shoppable videos

#Shopyourmood 'closes the loop' for editor Noreen Flanagan