International growth drives 2017 revenues, profits, at Stingray

MONTREAL – Acquisitions continue to pay off for Stingray Digital Group which saw its fourth quarter profits jump by over 41%, the company said Thursday.For the fourth quarter ended March 31, Stingray posted a net income of $4.6 million, up from $3.2 million for the same period last year, mainly attributable to higher income taxes recovery related to the recognition of prior unrecognized tax losses, lower loss on fair value of investments, partially offset by higher legal fees and amortization of intangibles.Adjusted net income increased 47.6% to $10.5 million from $7.1 million year-over-year, primarily due to higher income tax recovery...