New stations, ad growth, drive Newcap

DARTMOUTH – Small and mid-market radio company Newfoundland Capital Corporation posted third quarter revenue of $22.8 million, an 18% increase over the third quarter of 2005 and year-to-date revenue of $65.9 million, also an 18% increase over 2005. EBITDA improved 9% to $5.6 million for the quarter, ended September 30th. Consolidated EBITDA was $2.6 million in the quarter, down from $4.2 million last quarter due to a provision for decline in value of short-term investments, consistent with a general decline in the stock market, said the company's press release. Year-to-date EBITDA of $17.5 million "is more than last year's $13.3...