TORONTO – Corus Entertainment announced that its combined TV and radio revenues for its second quarter were $181.4 million, up only 1% from $178.7 million last year.
Consolidated segment profit for the quarter ended February 28, 2009 was $51.0 million, up 3% from $49.7 million last year, and net income for the quarter was $29.0 million, compared to net income of $35.4 million last year.
Corus’ television division contributed quarterly revenues of $123.4 million, up 5% from $117.3 million last year, led by subscriber revenue growth of 12% and “continued strong growth” in advertising targeted to women. Quarterly segment profit increased to $47.5 million, up 7% from $44.2 million last year, the press release detailed.
Revenues from Corus’ radio division were $57.9 million, down 6% from $61.5 million last year, and segment profit was $7.1 million, down 31% from $10.3 million last year.
"We are proud to have delivered both revenue and segment profit growth in such challenging economic times,” said John Cassaday, president and CEO, in the release. “Strong brands, superior programming, rigorous cost controls and multiple revenue streams helped offset the effects of a cyclically soft Canadian advertising market.”
