TORONTO – With this as the last set of publicly released financials from Alliance Atlantis prior to its sale, the company departs on a high note.
For the second quarter ended June 30th 2007, net earnings for the company that owns a roster of 13 specialty channels (Showcase, HGTV, History and others) and the mega-earning CSI franchise, increased 65% compared to Q2 2006 to $43.0 million. Q2 broadcasting revenue increased 12% compared to the prior year’s quarter to $85.9 million. Advertising and subscriber revenue in the quarter increased 14% to $49.1 million and 10% to $36.3 million, respectively
Broadcasting EBITDA of $31.5 million increased 18% compared to prior year’s period. Excluding digital media costs, broadcasting EBITDA increased 26% to $33.6 million.
Q2 CSI revenue of $100 million increased 18% compared to the prior year’s quarter and all 3 CSI series have been ordered for the fall season.
However, as previously announced, the Plan of Arrangement for the company’s acquisition by a consortium of Goldman Sachs and CanWest Global is scheduled to close on August 15, 2007. The deal will face the Commission next month.
"We are pleased to announce outstanding revenue and EBITDA growth for our broadcasting business, driven by fantastic growth in both advertising and subscriber revenues," said Phyllis Yaffe, CEO of Alliance Atlantis, in the company’s press release. "As expected, our channels are benefiting from significant additions of analog and digital subscribers, as well as solid audience growth."
"It is extremely satisfying to see such strong financial and operational results across our business," added Michael MacMillan, executive chairman. "As we look forward to tomorrow’s closing of the acquisition of the company, the results announced today are a testament to the exceptional value that has been created by our employees, management, board and business partners."
