DHX Media Ltd. reported its first-quarter loss grew compared with a year ago as it was hit by one-time reorganization charges and a non-cash foreign exchange loss.
The company, which is changing its name to Wildbrain, says the loss amounted to $16.0-million or 12 cents per share for the quarter ended Sept. 30 compared with a loss of $2.4-million or two cents per share a year earlier.
Revenue at the producer and distributor of child and youth-oriented programming totalled $112.3-million, up from $104.0-million in the same quarter last year.
DHX launched a management reorganization in September that cost it $5.4-million in the quarter.
The reorganization is expected to cost a total of $10-million to $12-million by the end of its financial year, but the company believes it will generate about $10.0-million in annualized savings.
The changes at the company follow the appointment of Eric Ellenbogen, a former president and chief executive of Marvel Enterprises, as DHX’s new chief executive earlier this year.
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