TORONTO – Score Media reported a modest increase in revenue for its third quarter, which it attributed to “continued growth in advertising revenue” in its television and digital media properties.
Revenue for the quarter ended May 31, 2009 increased by $0.6 million to $10.8 million, compared to $10.2 million in the same quarter last year.
EBITDA for the quarter dropped to $1.7 million from $2.2 million in the same period in 2008, on account of “continued, planned investment in HD programming and marketing initiatives”, the press release detailed.
"In 2009, Score Media has continued to innovate and push the boundaries of traditional sports broadcasting," said chairman and CEO John Levy, in the release. "With increased revenue growth, stemming from a
sustained focus on product development, original client campaigns and unique programming, the organization continues to remain profitable and highly optimistic for the remainder of 2009 and beyond."
The revenue growth helped to partially offset the company’s $1 million net loss that it reported in its second quarter of 2009. Net loss for the nine month period ending May 31, 2009 stands at $780,000.
