MONTREAL – TVA Group credited retroactive royalties on distant signal retransmission for a hefty third quarter jump in profits.
The Quebecor–owned communications company said Tuesday that net income attributable to shareholders was $6.3 million for the quarter ended September 30, well up from $1.5 million in the same quarter of 2012.
Revenues from TVA Group’s television and publishing and other businesses were $102.2 million, up from $97.1 million in the third quarter of 2012, while consolidated operating income increased to $18.4 million from $8.06 million year-over-year.
"In addition to the retroactive royalties on distant signal retransmission, the results of the last quarter also showed an improvement in operating income," said president and CEO Pierre Dion, in a statement. "This performance would not have been possible without the operational savings yielded by, among other things, the investments we have made in recent years in equipment and technological infrastructure.”
