Lower ad revenue drives TVA Group net earnings down
February 28, 2013 | Canadian Press | Comments
Quebecor’s TVA Group is reporting lower net income attributable to shareholders of $9.4 million, impacted in part by lower TV advertising revenues.
TVA Group said Thursday that earnings per share in its fourth quarter were 40 cents per share.
In the fourth quarter of 2011, TVA Group earned $11.5 million, or 48 cents per share.
Operating income in the television segment was up 5.6% to $19.1 million, mainly due to the positive impact of the deconsolidation of the results of Sun News since July 1, 2012 and specialty services.
But TVA Group said the decrease in operating income in its television segment was down 5.6% due to lower advertising revenues.
Operating income in the publishing segment down 27.2%, or $697,000, to $1.9 million.
“The television segment’s fourth quarter 2012 financial results were impacted by the decrease in TVA Network’s advertising revenues, which were flat for fiscal 2012 as a whole,” said Pierre Dion, president and CEO.
Dion said efforts are continuing to generate new revenues for TVA Group’s publishing segment.