×
You will be redirected back to your article in seconds

Alliance Atlantis up again

Second quarter revenue increased 18%

MONTREAL — After a lengthy period of lackluster results following the merger in September 1998 of Alliance and Atlantis, Alliance Atlantis Communications posted its second straight quarter of robust results, with strong growth in revenue and net earnings.

The boffo performance by the Canuck entertainment company was due to strong ticket sales by the motion picture division, growth in both subscriber and advertiser revenue for the broadcasting group and increased revenues from finance arm Alliance Atlantis Equicap.

Revenue for the second quarter ended Sept. 30 increased 18% to C$190.3 million ($128 million), compared to $109 million in the same quarter last year. (All results are presented on a pro forma combined basis, as if the merger of Alliance and Atlantis had taken place on April 1, 1998. The two companies actually merged in September.)

Cash flow for the second quarter was $18 million, up 48% from $12.3 million a year earlier. Net earnings for the second quarter were $6.2 million or 20¢ per share (based on a weighted average of 29.9 million shares), compared to a net loss of $28 million or $1.26 per share in the second quarter last year.

Excepting merger and restructuring costs last year, the net earnings for the second quarter last year were $4.4 million or 18¢ per share.

“We improved our TV margins and reduced operating costs. It’s showing that the merger worked, and we’re getting the cost savings we thought we’d get,” said Paul Laberge, veepee of corporate development at Alliance Atlantis.

Revenue was down 7% for the television group, to $64 million this quarter from $69 million last year.Revenue for the motion picture group was up 62% to $43.5 million, compared to $26.9 million last year. The increase in revenue was largely due to the expanded slate of theatrical releases in Canada, and the strong performance of “The Blair Witch Project” and “Austin Powers: The Spy Who Shagged Me.” Both titles were recently released on video and DVD.

Revenue for the broadcasting division increased 13% to $13 million in the quarter, compared to $12 million in the same quarter last year.

More Biz

  • Kirk Kerkorian

    Kirk Kerkorian's Estate Settles With Widow for $12.5 Million

    The estate of late media mogul Kirk Kerkorian has a reached a settlement with his widow, who claimed she was entitled to a third of his $1.8 billion fortune. Una Davis will receive just $12.5 million under the deal, which is set for court approval on Wednesday. Davis married the mogul in March 2014, becoming [...]

  • Meg Whitman and Jeffrey Katzenberg Strictly

    Variety's Innovate Summit 2018: What We Learned

    New insights into how data collection plays a role in the tech and entertainment spheres were revealed at Variety’s annual Innovate summit held in Los Angeles on Wednesday. Meg Whitman and Jeffrey Katzenberg discussed the exciting future of television designed for mobile phone viewing with their new streaming platform, “Quibi,” an executive from “The Ellen Show” discussed the [...]

  • Capitol Music Group Names Amber Grimes

    Capitol Music Group Names Amber Grimes Senior VP of Global Creative

    Amber Grimes has been named to the newly-created position of Senior Vice President of Global Creative for Capitol Music Group, it was announced today by Chairman & CEO Steve Barnett, to whom Grimes will report. According to the announcement, in her new position, Grimes will be integrally involved in formulating and executing the company’s global [...]

  • Kevin Hart

    Why Kevin Hart's Mea Culpa Was Too Little, Too Late (Opinion)

    Forgive me if this sounds trite or preachy, but the importance of owning up to our mistakes cannot be overstated. Denials, silence, cover-ups, repudiation — all are unacceptable. Media outlets around the globe, including ours, wrote about how Kevin Hart initially took no responsibility for having posted disgusting homophobic tweets years ago that resurfaced when [...]

  • Annie Lennox, Chrissie Hynde, Industry Execs

    Annie Lennox, Chrissie Hynde, Industry Execs Sign Anti-Brexit Letter

    Annie Lennox, Chrissie Hynde, Pink Floyd’s Nick Mason, Paloma Faith, Ed Sheeran manager Stuart Camp and Grammy/Emmy award-winning film composer David Arnold and several leading UK music industry bodies are among the signees of a letter drafted by the new organization Music4EU, stating that Brexit “represents a significant threat to the UK’s music industry” and [...]

  • Kevin Hart Oscars Gay Tweet Controversy

    What Public Figures Should Learn From the Kevin Hart Oscars Debacle (Guest Column)

    When social media erupted over Kevin Hart’s anti-gay tweets from years ago, many in the media and the entertainment industry believed he would immediately apologize, LGBTQ people would critique but ultimately accept his mea culpa, and the comedian would go on to host the Academy Awards. If offenders make a commitment to do better, their [...]

More From Our Brands

Access exclusive content