DHX Media vows to cut costs after 2017 revenues, profits miss expectations

HALIFAX – DHX Media has kicked off a “cost-reduction program” to reverse disappointing fourth quarter and year-end results for the period ended June 30, 2017.While Q4 revenues of $87.6 million grew 16% from $75.3 million in the same period last year, they were lower than expectations due to a lack of execution and timing differences in the content business, lack of execution on licensing for the Teletubbies in the U.S., and lower than expected consumer products-represented revenues. In absolute dollars, the increase in Q4 2017 was due to continued strong growth in Wildbrain, seasonally high production service revenues, and growth...