Newcap revenue climbs but new launches drag down EBITDA

DARTMOUTH, NS – Small market radio station owner Newfoundland Capital Corporation, said Friday that its consolidated revenue of $24.6 million in the fourth quarter showed a 29% improvement over the last three months of 2004, with year-to-date revenue of $80.6 million being 21% better than last year. Organic, or same-station growth of 8% contributed to the increase in revenue in the quarter, while new stations and acquisitions accounted for 21%. For the year, organic growth of 9% contributed to the revenue increase while 12% came from new launches and acquisitions. However, EBITDA (earning before interest, taxes, depreciation and amortization) declined...