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The Globe and Mail

Score Media profit drops in first quarter

Score Media Inc. says its revenue crept ahead in the first quarter, rising 4 per cent from a year earlier to $11.9-million.

Profit dropped 21 per cent to $839,000 from $1.1-million a year earlier when revenue was $11.4-million.

Earnings per share was steady at one cent in each period.

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Profit as measured by EBITDA (earnings before interest, taxes, depreciation and amortization) was $2.6-million, down from $3.3-million in the same period last year or $2.5-million excluding the positive impact of a $800,000 regulatory fee reversal.

"Our business continues to evolve quarter after quarter and this quarter is no exception," says John Levy, Score Media's chairman and CEO.

"Our growth in both revenue and EBITDA gives us continued confidence in our business and product road map and leaves us well positioned to deliver on exciting new offerings planned for this coming year."

The company owns theScore Television Network, a specialty TV service, as well as satellite radio and Internet services delivered to smart phones and mobile devices including the iPad.

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