Business
DHX Media reports full-year results and increases dividend
REVENUE UP 34%, DISTRIBUTION REVENUE INCREASES 256% TSX: DHX HALIFAX , Sept....
About this update from Wildbrain Ltd.
[{"type":"text","content":"\n\n\nREVENUE UP 34%, DISTRIBUTION REVENUE INCREASES 256% \n\n\nTSX: DHX\n\n\nHALIFAX, Sept. 23, 2013 /CNW/ - DHX Media Ltd. (\"DHX Media\" or the\n \"Company\") (TSX: \"DHX\"), the leading independent international\n producer, distributor and licensor of children's entertainment content,\n is pleased to announce its audited financial results for the year ended\n June 30, 2013.\n\n\nDividend Declaration\n\n\nThe Board of Directors has approved a dividend for the quarter of $0.011\n on each common share outstanding on September 22, 2013 to the\n shareholders of record at the close of business October 2, 2013 to be\n paid October 16, 2013, representing a 47% increase over last quarter's\n dividend.\n\n\nHighlights of Fiscal 2013 Results:(All amounts in Canadian dollars)\n\n\nRevenues of $97.26 million, up 34% from $72.65 million in Fiscal 2012;\n\nNormalized net income of $8.65 million (up 184% or $0.10 per share)\n after adding back after-tax, acquisition related costs of $6.79\n million. Stated net income of $1.86 million (down 39%) or $0.02 per\n share versus $3.05 million or $0.05 per share for Fiscal 2012;\n\nGross Margin increased to $48.73 million (50% of revenue), up 97% from $24.72 million (34% of revenue) in Fiscal 2012;\n\nAdjusted EBITDA1 of $23.43 million, an increase of $14.30 million or 157% compared to\n $9.13 million EBITDA1 for Fiscal 2012;\n\nDistribution Revenue of $24.57, up 256% from $6.91 million in Fiscal\n 2012;\n\nRevised Q3 2013 cost synergy target of $10 million exceeded by 5% as the\n Company has now achieved $10.5 million in synergies from the Cookie Jar\n acquisition; and,\n\nResults represent just over eight months of contribution from the\n October 2012 Cookie Jar acquisition.\n\n\n1 EBITDA represents income of the Company before amortization, finance income\n (expense), taxes, share of loss of associates, development expenses and\n any impairments, share-based compensation expense, and Adjusted EBITDA\n includes adjustments for other non-recurring charges. (See Fiscal 2013\n MD&A definition of EBITDA and Adjusted EBITDA for full details).\n\n\nMichael Donovan, Chairman and CEO, DHX Media commented, \"Fiscal 2013 was\n a transformative year for DHX Media thanks to our October 2012\n acquisition of Cookie Jar and the proliferation of new digital\n distribution customers in our industry. Our othe...