MONTREAL – Astral Media reported second quarter growth in its revenues, EBITDA and cash flow from continuing operations.
Consolidated revenues for the quarter ended February 28, 2009 totaled $209.3 million, a 2% increase over the $205.9 million reported last year for the same period. The Television group generated $121,778 in revenue, while the Radio and Outdoor Advertising divisions earned $75,334 and $12,166, respectively.
EBITDA (excluding restructuring charges) rose to $61.9 million from $61.1 million for the same period in 2008, the company announced Thursday.
Consolidated net earnings from continuing operations for the second quarter were flat against the same quarter last year at $28.9 million, when it took in to account restructuring charges incurred by the Radio division as a result of the integration of Standard Radio.
"The strength and resilience of these second quarter results are another illustration of the importance of having a diversified and balanced revenue mix under challenging economic conditions, said Ian Greenberg, president and CEO, in the announcement. “While some of our media platforms or geographic operations faced increased volatility, other segments of the company performed very strongly, thus allowing us to record a 50th consecutive quarter of growth."
