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TVA drops to Q3 loss of $820,000
Wednesday November 01st 2006MONTREAL (CP) _ TVA Group Inc. (TSX:TVA.B) posted a third-quarter loss of $820,000, reversing a year-ago profit as revenues fell because of weakness in the company’s television business. The media company’s loss amounted to three cents per share and compared with a net income of $2.7 million, 10 cents per share, for the same quarter in 2005.
Revenues fell to $79 million from $81 million. TVA attributed the drop in profits to rationalization expenses and the depreciation of a publishing asset.
"Conventional television continues to feel pressure from the market," stated TVA Group CEO Pierre Dion.
"TVA Network saw its profit decline significantly during the quarter compared to the same quarter a year earlier, even though it continues to post excellent audience ratings."
The company’s board of directors also announced a dividend of five cents per share, payable on Dec. 1 to class A and B shareholders of record as at Nov. 16.
TVA Group is an integrated communications company involved in television, production and distribution of audiovisual products, as well as magazine publishing.
On the TSX Wednesday, its shares closed down 33 cents at $14.
Headline, Industry News
TVA drops to Q3 loss of $820,000
Wednesday November 01st 2006MONTREAL (CP) _ TVA Group Inc. (TSX:TVA.B) posted a third-quarter loss of $820,000, reversing a year-ago profit as revenues fell because of weakness in the company’s television business. The media company’s loss amounted to three cents per share and compared with a net income of $2.7 million, 10 cents per share, for the same quarter in 2005.
Revenues fell to $79 million from $81 million. TVA attributed the drop in profits to rationalization expenses and the depreciation of a publishing asset.
"Conventional television continues to feel pressure from the market," stated TVA Group CEO Pierre Dion.
"TVA Network saw its profit decline significantly during the quarter compared to the same quarter a year earlier, even though it continues to post excellent audience ratings."
The company’s board of directors also announced a dividend of five cents per share, payable on Dec. 1 to class A and B shareholders of record as at Nov. 16.
TVA Group is an integrated communications company involved in television, production and distribution of audiovisual products, as well as magazine publishing.
On the TSX Wednesday, its shares closed down 33 cents at $14.
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Headline, Industry News
TVA drops to Q3 loss of $820,000
Wednesday November 01st 2006MONTREAL (CP) _ TVA Group Inc. (TSX:TVA.B) posted a third-quarter loss of $820,000, reversing a year-ago profit as revenues fell because of weakness in the company’s television business. The media company’s loss amounted to three cents per share and compared with a net income of $2.7 million, 10 cents per share, for the same quarter in 2005.
Revenues fell to $79 million from $81 million. TVA attributed the drop in profits to rationalization expenses and the depreciation of a publishing asset.
"Conventional television continues to feel pressure from the market," stated TVA Group CEO Pierre Dion.
"TVA Network saw its profit decline significantly during the quarter compared to the same quarter a year earlier, even though it continues to post excellent audience ratings."
The company’s board of directors also announced a dividend of five cents per share, payable on Dec. 1 to class A and B shareholders of record as at Nov. 16.
TVA Group is an integrated communications company involved in television, production and distribution of audiovisual products, as well as magazine publishing.
On the TSX Wednesday, its shares closed down 33 cents at $14.
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