HALIFAX – DHX Media ended fiscal 2015 on a high note, posting a 127% jump in revenues and a 150% leap in profits.
For the fiscal year ended June 30, 2015, the broadcaster, creator, producer and marketer of family entertainment reported revenues of $264.0 million, up from $116.1 million year-over-year, and net income of $19.5 million, more than double last year’s $7.8 million.
Adjusted net income of $38.4 million was up 239% from $11.3 million for fiscal 2014, while adjusted EBITDA grew 144% to $90.2 million, from $37.0 million last year. Gross margin for fiscal 2015 was $145.04 million, an increase in absolute dollars of $75.61 million or 109% compared to $69.43 million for fiscal 2014.
The company attributed the gains in part to the acquisition of DHX Television on July 31, 2014, and a 90% increase in distribution revenues to $77.67 million (22% acquisitive and 68% organic), which it said was primarily due to the continuing growth of new digital customers, platforms, and territories.
In the fourth quarter, DHX Media's revenue jumped 139% to $71.2 million from $29.7 million a year earlier; net income of $3.7 million was up 255% from $1 million; and adjusted EBITDA of $22.8 million increased 124% from $10.2 million in the fourth quarter of 2014.
"This was a year of tremendous growth for DHX Media and we are extremely pleased to report increases across all key metrics”, said CEO Dana Landry, in a statement. “We are now realizing the rewards of the integrated platform we've been building over the past few years, as evidenced by our strong organic growth. We look forward in the coming year to building further on this platform to continue delivering shareholder value."
The company also announced plans to raise its dividend and buy back up to 10% (approximately 8.2 million) of its outstanding shares over the next year by way of a normal course issuer bid.
