MONTREAL – Astral Media reported continued growth in profits and revenues for its second quarter, albeit at a slower pace than the gains that it posted in the first quarter of 2011.
Consolidated revenues for the second quarter ended February 28, 2011 totalled $232.7 million, a 7% increase over the $218.3 million reported for the same period last year. Consolidated net earnings grew 3% to $34.8 million from $33.6 million year-over-year, while EBITDA increased by 3% to $64.3 million from $62.6 million.
Television revenues for the quarter were $138.9 million, up 7% from $129.4 million in the same period last year, helped by 17% and 5% increases in advertising and subscriber-related revenue, respectively. The number of pay-TV subscribers for The Movie Network and Super Écran grew 5% to 1.902 million at the end of the quarter.
Radio revenues increased 3% to $76.4 million from $74 million last year, while out-of-home revenue climbed 17% to $17.4 million.
"I am pleased by the growth we experienced in the second quarter of Fiscal 2011 and am delighted that all our business units continue to contribute to our performance quarter after quarter," said president and CEO Ian Greenberg, in a statement. "While benefiting from an improved economic landscape, we maintain our focus on gaining additional operational efficiencies throughout the organization."
For more on Astral’s second quarter financial results, click here.
