TORONTO – While revenue rose at Score Media during fiscal 2009, the company took an EBITDA hit and recorded a net loss for the year ended August 31, 2009.
Revenue increased by $2.5 million to $38.9 million for the company whose primary asset is sports specialty channel The Score as it showed increases in TV revenues as well as web and mobile revenues.
EBITDA for the year was $3.8 million compared to $5.9 million in the previous year, “due mostly to planned investments in HD programming and marketing,” says the press release.
The net loss for the year ended August 31, 2009 was $1.5 million, compared to net income of $2 million in the previous year, thanks to the mentioned spends, and increased depreciation expense of $1.5 million related to Score Media’s new HD broadcasting facilities
Fourth quarter revenue increased by $400,000 to $8.9 million, compared to $8.5 million in the prior year. Fourth quarter EBITDA was $700,000 compared to $1.6 million in the prior year.
"We are pleased with our fiscal 2009 results," said John Levy, chairman and CEO. "Continuing to grow revenue while making strategic investments across various departments and navigating through a tough economy is a noteworthy accomplishment that has left us well positioned for both revenue and EBITDA growth in 2010."
