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Corus up in Q4 - Licensing.biz

Corus up in Q4

Continued revenue growth from broadcasting business gives firm a boost.
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The parent company of Nelvana, Corus Entertainment has reported growth for its fourth quarter and fiscal year 2007.

President John Cassaday described the year as "exceptional". Consolidated revenues for the fourth quarter ended August 31st 2007 were $187.2 million, up from $185 million last year. Consolidated segment profit was $50.2 million, up 13 per cent from $44.5 million last year.

Corus Television contributed quarterly revenues of $104.2 million, up eight per cent from $96.9 million, while Corus Radio revenues were $66.5 million, up marginally over the same period in 2006.

Corus Content revenues, however, were $17.7 million, down 28 per cent from $24.5 million.

Consolidated revenues for the year ended August 31st 2007 were $768.7 million, up six per cent on 2006.

"Corus had an exceptional year in fiscal 2007," said John Cassady, president and CEO. "Our share price increased by 26 per cent, we increased our dividend by 16 per cent and we bought back approximately two per cent of our shares. These positive outcomes for our shareholders were due to the strength of our core businesses in radio and television."

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