TORONTO – Ad and subscriber revenue increases helped Score Media, owners of sports channel The Score, to a solid second quarter of fiscal 2006, ended February 28.
"Score Media continued to perform exceedingly well through the second quarter and we anticipate continued strength in the next two fiscal quarters," said John Levy, chairman and CEO, in a release. "Our strategy of introducing multiple touch-points (TV, radio, Internet satellite radio, wireless) to broaden our reach to Canadian hardcore sports fans is beginning to have a top line impact."
Revenue for the three months ended February 28, 2006 increased by $1.2 million to $6.8 million. This increase was due to a combination of greater television subscriber revenue, increased television advertising revenue, and revenues from Score Media’s interactive properties and Hardcore Sports Radio – that were launched in the past 12 months.
Television subscriber revenue increased approximately $100,000 in the second quarter and television advertising revenue increased by approximately $800,000. The advertising growth was supplemented with revenue of approximately $200,000 from the new business units.
Operating expenses excluding rights fees were $5.2 million during the quarter, compared to $4.5 million in the prior year, representing an increase of $700,000 due to increased programming expenses resulting from more live event programming, higher compensation costs from general staffing increases, marketing expenses associated with the launch of new initiatives and greater occupancy costs at the company’s facilities.
Net income before interest, income taxes, depreciation and amortization was $800,000 during the quarter, an improvement of $100,000 from the same period last year.
