MONTREAL — Canuck broadcaster Corus Entertainment reported a slight drop in revenue and a more substantial cut in net earnings for the fourth quarter on Friday.
Revenue for the three months ended Aug. 31 was C$185.8 million ($146 million), down 1% from $147 million in the same quarter last year. Net earnings were $13.7 million, down from $17 million.
Revenue from Corus Television — which includes the channels YTV, Treehouse, W Network and Movie Central — was up 1% to $82 million. Profit for the TV division rose 5% to $28 million.
Corus Radio’s revenue was up 3% to $54 million but net earnings fell 13% to $12 million.
Corus Content, which includes animation producer Nelvana, reported revenue for the quarter of $10 million, down 27% from a year earlier. But the division’s profit was up 15% to $2 million.
Revenue for the year was up 2% to $619 million, on net earnings up from $84 million the previous year to $102 million. Corus Television contributed revenue of $354 million, up 3% on the year before.