NewCap posts $4.4 M net loss for 2008

DARTMOUTH, NS – Radio company Newfoundland Capital Corporation (NewCap) saw a fourth quarter net loss of $3.9 million, which contributed to a $4.4 million net loss for its fiscal 2008. The net loss in Q4 was $9.7 million lower than 2007, and for the year, the $4.4 million net loss was $24.7 million lower than last year, the press release detailed. Net income was also “significantly lower” than 2007 in the quarter and for the year, because of the “unrealized and realized losses in marketable securities and due to (a) goodwill impairment loss.” NewCap saw incremental growth of 6% in...