TVA Group Reports a $9.4 Million Net Income Attributable to Shareholders in the Fourth Quarter Ended December 31, 2012
(firmenpresse) - MONTREAL, CANADA -- (Marketwire) -- 02/28/13 -- TVA Group Inc. (the "Corporation") (TSX: TVA.B) announces that it recorded net income attributable to shareholders in the amount of $9.4 million, or $0.40 per share, in the fourth quarter of 2012, compared with $11.5 million, or $0.48 per share, in the same quarter of 2011.
Fourth quarter operating highlights:
"The Television segment's fourth quarter 2012 financial results were impacted by the decrease in TVA Network's advertising revenues, which were flat for fiscal 2012 as a whole," said Pierre Dion, President and CEO of the Corporation. "The combined market shares of TVA Group's channels grew by 6.3% to 33.5 shares for the period of October 1 to December 31, 2012. The total revenues of our French-language specialty services grew 21.3% in the fourth quarter of 2012 and 33.6% in 2012 as a whole".
"The Publishing segment's operating margin was 10.7% despite the decreases in advertising revenues and in newsstand revenues in the last quarter of 2012. Efforts are continuing to launch new initiatives and brand strategies in order to generate new revenue streams in the Publishing segment in 2013."
Cash flows provided by operating activities totalled $12.6 million for the quarter, compared with $2.8 million in the same quarter of 2011. The $9.8 million increase was essentially due to the favourable variance in non-cash items, particularly accounts receivable.
2012 results
For the fiscal year ended December 31, 2012, the Corporation's consolidated operating income was $45.6 million, compared with $50.5 million in the previous year. The 9.8% decrease was due entirely to the Publishing segment and resulted mainly from the increase in operating expenses caused by the fees set for 2010, 2011 and 2012 for business contributions to the cost of waste recovery services (Bill 88), combined with lower operating revenues in the segment. Consolidated operating revenues totalled $457.4 million, compared with $445.5 million in 2011, a 2.7% increase. During the same period, the Corporation recorded a net loss attributable to shareholders in the amount of $4.1 million, or $0.17 per share, compared with net income attributable to shareholders in the amount of $25.6 million, or $1.08 per share, in 2011.
Definition
Operating income (loss)
In its analysis of operating results, the Corporation defines operating income (loss) as net income (loss) before amortization of property, plant and equipment and intangible assets, financial expenses, impairment of goodwill, gain on disposal of businesses, operational restructuring costs, impairment of assets and other costs, income taxes, after-tax share of income (loss) of associated corporations and net loss attributable to non-controlling interest. Operating income (loss) as defined above is not a measure of results that is consistent with IFRS. Neither is it intended to be regarded as an alternative to other financial performance measures or to the statement of cash flows as a measure of liquidity. This measure is not intended to represent funds available for debt service, dividend payment, reinvestment or other discretionary uses, and should not be considered in isolation or as a substitute for other performance measures prepared in accordance with IFRS. Operating income (loss) is used by the Corporation because management believes it is a meaningful measure of performance.
This measure is used by management and the Board of Directors to evaluate the Corporation's consolidated results and the results of its business sectors. Measurements such as operating income (loss) are also commonly used by the investment community to analyze and compare the performance of companies in the industries in which the Corporation is active. The Corporation's definition of operating income (loss) may not be identical to similarly titled measures reported by other companies.
Forward-looking Statements
The statements in this news release that are not historical facts may be forward-looking statements and are subject to important known and unknown risks, uncertainties and assumptions which could cause the Corporation's actual results for future periods to differ materially from those set forth in the forward-looking statements. Forward-looking statements generally can be identified by the use of the conditional, the use of forward-looking terminology such as "propose," "will," "expect," "may," "anticipate," "intend," "estimate," "plan," "foresee," "believe" or the negative of these terms or variations of them or similar terminology. Certain factors that may cause actual results to differ from current expectations include seasonality, operational risks (including pricing actions by competitors), programming content and production cost risks, credit risk, government regulation risks, governmental assistance risks, changes in economic conditions, fragmentation of the media landscape and labour relations. Investors and others are cautioned that the foregoing list of factors that may affect future results is not exhaustive and that undue reliance should not be placed on any forward-looking statements. For more information on the risks, uncertainties and assumptions that could cause the Corporation's actual results to differ from current expectations please refer to the Corporation's public filings available at and including, in particular, the "Risks and Uncertainties" section of the Corporation's annual Management's Discussion and Analysis for the year ended December 31, 2012.
The forward-looking statements in this news release reflect the Corporation's expectations as of February 28, 2013, and are subject to change after this date. The Corporation expressly disclaims any obligation or intention to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by the applicable securities laws.
TVA Group
TVA Group Inc., a subsidiary of Quebecor Media Inc., is an integrated communications company involved in the creation, production, broadcast and distribution of audiovisual products, and in magazine publishing. TVA Group Inc. is the largest broadcaster of French-language entertainment, information and public affairs programming and publisher of French-language magazines in North America, and one of the largest private-sector producers of French-language content in North America. The Corporation's Class B shares are listed on the Toronto Stock Exchange under the ticker symbol TVA.B.
The audited annual consolidated financial statements with notes and the annual Management's Discussion and Analysis can be consulted on the Corporation's website at
The intersegment items represent the elimination of normal course business transactions between the Corporation's business segments regarding revenues.
Contacts:
Denis Rozon, CPA, CA
Vice-President and Chief Financial Officer
(514) 598-2808
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Datum: 28.02.2013 - 14:34 Uhr
Sprache: Deutsch
News-ID 234529
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Kategorie:
Television
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