Investment gains drive Newcap earnings

DARTMOUTH, N.S. – 2006 fourth quarter revenue of $28 million came in 14% higher than 2005, and for the year revenue grew 17% to $93.9 million at radio broadcaster Newfoundland Capital Corporation. Earnings before interest, taxes, depreciation and amortization increased 12% over 2005 in the quarter and improved 26% for the year reaching $23 million, however, the increase was driven primarily by $8.7 million in net investment gains which were not specified. Net income is $600,000 higher in the quarter, and $5.9 million higher for the year. Net income for fiscal 2006 was $12 million The company's release noted it...