Glacier reports strong second quarter earnings

About this update from Glacier Media Inc.

[{"type":"text","content":"\n\n\n\nTrading Symbol: GVC(TSX)\n\n\nVANCOUVER, Aug. 11 /CNW/ - Glacier Media Inc. ("Glacier") reported\nrevenue, cash flow and earnings for the period ending June 30, 2008.\n\n\nHighlights\n\n- Revenue for the second quarter grew 22.4% and EBITA grew 35.8%\n compared to the same period last year. EBITA margin for the quarter\n increased to 26.8% from 24.2% for the same period last year.\n\n- Cash flow from operations per share for the quarter grew 47.8%\n compared to the same period last year.\n\n- Glacier acquired a Western Canadian community newspaper, a 50%\n interest in a strategic publishing and printing operation in\n Saskatchewan, the Electronic Products & Technology magazine and\n related trade shows, a non-controlling interest in Iron Solutions\n Inc. and an increased interest in Continental Newspapers Ltd. During\n the six months ended June 30, 2008, Glacier has completed\n acquisitions and investments totalling $40.8 million in aggregate\n purchase price.\n\n- Glacier's strategic diversification in the strong Western Canadian\n local newspaper, agriculture, mining and energy sectors, as well as a\n variety of other trade and business and professional information\n niches, continues to produce strong consolidated revenue, EBITA and\n cash flow growth.\n\n\nOperating Results\n\n\nFor the three months ending June 30, 2008, Glacier earned $16.4 million\nof consolidated cash flow from operations on revenue of $68.9 million, as\ncompared to $11.1 million on revenue of $56.3 million for the three months\nended June 30, 2007. Glacier's EBITA was $18.5 million and net income was\n$13.1 million for the quarter, as compared to EBITA of $13.6 million and net\nincome of $10.4 million for the same period last year.\n\n\n-------------------------------------------------------------------------\n$000's except share and 3 Months 3 Months 6 Months 6 Months\n per share amounts June 30, June 30, June 30, June 30,\n 2008 2007 2008 2007\n-------------------------------------------------------------------------\nRevenue $68,884 $56,286 $127,715 $109,752\n-------------------------------------------------------------------------\nEBITA $18,494 $13,622 $31,597 $25,466\n-------------------------------------------------------------------------\nEBITA margin 26.8% 24.2% 24.7% 23.2%\n------------------------------------------------...

More updates from Glacier Media Inc.