CORUS ENTERTAINMENT INC. | ||||||
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME | ||||||
Three months ended | Nine months ended | |||||
May 31, | May 31, | |||||
(unaudited - in thousands of Canadian dollars except per share amounts) | 2013 | 2012 | 2013 | 2012 | ||
Revenues | 200,060 | 204,078 | 609,907 | 646,652 | ||
Direct cost of sales, general and administrative expenses | 131,834 | 128,422 | 394,340 | 417,535 | ||
Depreciation and amortization | 6,926 | 6,339 | 20,872 | 19,231 | ||
Interest expense | 10,456 | 13,190 | 35,859 | 40,027 | ||
Debt refinancing | — | — | 25,033 | — | ||
Business acquisition, integration and restructuring costs | 2,147 | 2,325 | 2,147 | 2,325 | ||
Gain on sale of associated company | (55,394) | — | (55,394) | — | ||
Other (income) expense, net | 82 | (3,532) | 162 | (4,702) | ||
Income before income taxes | 104,009 | 57,334 | 186,888 | 172,236 | ||
Income tax expense | 12,497 | 12,387 | 34,480 | 41,070 | ||
Net income for the period | 91,512 | 44,947 | 152,408 | 131,166 | ||
Net income attributable to: | ||||||
Shareholders | 89,913 | 43,221 | 148,016 | 125,340 | ||
Non-controlling interest | 1,599 | 1,726 | 4,392 | 5,826 | ||
91,512 | 44,947 | 152,408 | 131,166 | |||
Earnings per share attributable to shareholders: | ||||||
Basic | $ 1.07 | $ 0.52 | $ 1.77 | $ 1.51 | ||
Diluted | $ 1.07 | $ 0.51 | $ 1.76 | $ 1.50 | ||
Net income for the period | 91,512 | 44,947 | 152,408 | 131,166 | ||
Other comprehensive income (loss), net of tax | ||||||
Items that may be reclassified subsequently to income: | ||||||
Unrealized foreign currency translation adjustment | 204 | 1,434 | 1,685 | 1,971 | ||
Unrealized change in fair value of available-for-sale investments | (368) | (163) | (42) | (254) | ||
(164) | 1,271 | 1,643 | 1,717 | |||
Comprehensive income for the period | 91,348 | 46,218 | 154,051 | 132,883 | ||
Comprehensive income attributable to: | ||||||
Shareholders | 89,749 | 44,492 | 149,659 | 127,057 | ||
Non-controlling interest | 1,599 | 1,726 | 4,392 | 5,826 | ||
91,348 | 46,218 | 154,051 | 132,883 | |||
Corus Entertainment Announces Fiscal 2013 Third Quarter Results
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