MONTREAL – TVA Group reported net income of $15.6 million for the period ended December 31st 2007, which compares favorably to a net loss of $13.0 million, or $0.48 per share, for the corresponding quarter of 2006.
While there was growth in operating income of the Quebecor Media division’s television sector of $569,000, or 3% compared with the corresponding quarter of 2006, it was mainly due to a “significant increase in the operating income of the Shopping TVA home shopping division,” says the release, and a “decrease of 40.6% in the operating loss of SUN TV.”
Those results offset a decrease of 3.8% in TVA Network’s operating income, compared to the results for the same quarter of 2006;
The company’s magazine publishing sector saw another significant jump in its operating income over the corresponding quarter of last year to $1.6 million. Its movie distribution sector also improved its profitability, generating operating income of $1.5 million against an operating loss of $502,000 for the corresponding quarter of 2006.
"We are pleased with the progress made for all our business segments over the last fiscal year and in the last quarter. However, the situation in the conventional television market continues to be of great concern, as reflected by the 2.6% decline in our advertising revenues from this market within the TVA Group for the fourth quarter of 2007, in spite of the fact that TVA Network has 25 of the 30 best-watched programs and is still No. 1, seven days a week,” said Pierre Dion, president and CEO. “The increase in our operating income from the Television sector for the last quarter comes essentially from operations other than those of the TVA Network. To support the growth of our specialty channels, we are pleased to announce the launch of a new specialty channel, Les Idees de ma maison, slated for February 19, 2008. The new channel’s four main themes are renovation and do-it-yourself, cooking, design and decor, and lifestyle.”
