You will be redirected back to your article in seconds

Nelvana earnings animated

Third-quarter up 14%

TORONTO — Animation producer Nelvana posted its eighth consecutive quarter of earnings growth in the third quarter.

Earnings for the nine months ended Sept. 30 were C$5.0 million ($3.4 million), or 46¢ per share, up 14% from the same time last year. Revenues for the period were $32.1 million, up a hefty 31% from the first nine months of 1998.

For the third quarter, net earnings were $1.8 million, or 24¢ per share, up 12% from the previous year. Revenues during the quarter were $15.2 million, up 12% from the nine-month figure posted a year ago.

New divisions help

The increase was, in part, a reflection of gains in the recently acquired merchandising and publishing divisions. Merchandising revenue for the third quarter increased 39% to $1.2 million; publishing contributed $2.5 million.

The company received an additional boost from its 20% interest in Teletoon, which contributed $680,000 to the year-to-date bottom line, and experienced moderate gains in production and distribution revenues despite delivering fewer animated episodes in the quarter (37) than a year ago (43).

Nelvana has also begun production of “Maggie and the Ferocious Beast,” its newest book-based series for Nickelodeon Jr. and Teletoon.

The series is based on the books created by author Betty Paraskevas and her son, artist/illustrator Michael. “Maggie” is expected to debut on Nick Jr. next summer and on Teletoon in the fall.

The company also announced series renewals for “Rolie Polie Olie,” “Franklin,” “Little Bear” and “George and Martha.”

Toronto-based Nelvana also has production facilities in L.A., London, Paris, Tokyo and Shannon, Ireland.

More Biz

  • Tencent Profits Hit $1 Billion Per

    Tencent Profits Hit $1 Billion Per Month As Company Loses Fizz

    Growing regulatory encroachments into its games business, a smaller than expected spin-off for its music division, and a fourth quarter profits drop, pointed to a troubling year for Chinese tech giant Tencent. Its financial results for the full 2018 period, while delivering profits of nearly $1 billion a month, appeared to bear out that thesis. [...]

  • splice

    Splice Raises $57.5 Million in Latest Funding Round

    Splice, a favorite of music creators that allows access to a library of three million rights-cleared sounds, announced today that the company closed a Series C funding round at $57.5 million. That brings Splice’s total amount raised to roughly $102 million since its launch in 2013. It raised a Series B in November of 2017. [...]

  • WGA Agents Contract Tug of War

    WGA Leaders to Meet With Showrunners on Agency Packaging Fight (EXCLUSIVE)

    WGA leaders are set to meet Wednesday night with a group of showrunners who are raising concerns about the guild’s handling of negotiations with talent agents over the issue of packaging fees and agency-affiliated productions. The meeting is set for 7:30 p.m. at WGA West headquarters. WGA West president David Goodman is expected to attend. [...]

  • Bill Murray St Vincent 2014

    Weinstein Co. Sued Over Trademark Infringement in Bill Murray Film

    A horse-racing announcer has sued the Weinstein Co., claiming that the company infringed on his trademarked phrase in a 2014 Bill Murray movie. Dave Johnson is the man behind “And down the stretch they come!,” which he began using while calling races in Illinois in the 1960s. The phrase took off when Johnson moved to [...]


    Mom + Pop Promotes Hallie Anderson and Jessica Page to Co-General Managers

    Mom + Pop Music has promoted Hallie Anderson to co-GM and head of marketing and Jessica Page to co-GM and head of digital, the company announced today. They had previously served as VP of marketing and VP of digital strategy, respectively. “Being able to promote, empower and support Hallie and Jess in their new positions [...]

  • Disney Fox Takeover Placeholder

    Disney, Fox Employees Grapple With Day One Transition on Two Hollywood Lots

    What kind of a boss will Disney be? That’s a question facing employees at 20th Century Fox, Fox Searchlight, National Geographic Partners, FX Networks, and other assorted parts of Rupert Murdoch’s former media empire. Wednesday was their first full day as staffers of the Walt Disney Co. and the initial moves have done little to [...]

  • Jay Wilson Joins Mascot Label Group

    Jay Wilson Joins Mascot Label Group as VP of Publicity

    Jay Wilson has been named VP of publicity for Mascot Label Group, the company announced today. A veteran of Republic, Glassnote and Universal Records, In his new position Wilson will conceive and implement media strategies for the company and its roster of artists such as Beth Hart, James Morrison, P.O.D., Robert Randolph and the Family [...]

More From Our Brands

Access exclusive content