HALIFAX – DHX Media reported a 320% jump in net income and a 19% increase in revenues for its 2014 fiscal year, a year that CEO Dana Landry described as “highly transformative”.
For the period ended June 30, 2014, the broadcaster, creator, producer and marketer of family entertainment reported revenues of $116.1 million versus $97.3 million at the end of fiscal 2013, driven by “significantly higher” distribution revenue (generally driven by the proliferation of new digital buyers), and a “significant increase” in proprietary production revenue.
Net income was $7.8 million, a notable increase from $1.9 million year-over-year, while EBITDA increased 136% to $32.0 million from $13.6 million. Fiscal 2014 gross margin increased to $69.4 million (60% of revenues), up 42% from $48.7 million for Fiscal 2013 (50% of revenues).
The company added 171.0 half-hours to its library, up 51% from 113.0 half-hours for last year and above the high end of its stated goal of 75-150 half-hours.
For the fourth quarter, DHX Media posted a 14% increase in revenues to $29.7 million; a 41% jump in net income to $1.04 million and Q4 2014 EBITDA increased 68% to $8.0 million.
“While we continued to grow our library both organically and through the acquisition of renowned assets, such as Degrassi, and the preschool series Teletubbies and In the Night Garden, we also became a fully integrated media company with the addition of DHX Television”, said Landry, in a statement. “For the year, we delivered strong growth across the key metrics of revenue, adjusted EDITDA, gross margin and net income, driven by significantly increased performance from production and distribution. Over the year ahead, we aim to continue to execute on our plan to focus on organic growth while also keeping an eye out for acquisitions that will further strengthen our position as a leading content company globally."
