NewCap's Q3 "outpaces industry"

DARTMOUTH, NS – Despite a slowdown in the advertising market, Newfoundland Capital Corporation (NewCap) reported growth in net income and EBITDA for its third quarter ended September 30, 2009.Consolidated revenue of $25.4 million was 3% lower than last year, however, year-to-date consolidated revenue increased by 1%, to finish at $74.8 million.Consolidated EBITDA in the quarter was $4.7 million, compared to a loss of $4.2 million last year, while net income was $6.2 million, up by $13.8 million over last year. The company said that unrealized losses in 2008 negatively impacted the prior year's results while this third quarter's $5.6 million...