Improving economy boosts Q3 revenue at Newcap

DARTMOUTH – Double-digit revenue growth continued into a third quarter for Newfoundland Capital Corporation, after the radio station owner marked a 13% year-over-year jump in revenue.For the quarter ended September 30th, consolidated revenue was $28.7 million, up $3.3 million (or 13%) from $25.4 million last year, as a result of increased revenue in the company’s broadcasting segment. Net income, however, plunged 58% this quarter to $2.6 million from $6.2 million, primarily as a result of the $1.6 million broadcast licence impairment charge incurred in the second quarter this year and last year's $5.6 million gain on disposal in the third quarter."This year has...