UPDATE 1-Corus Entertainment profit falls as television revenue slips

Thu Apr 11, 2013 7:42am EDT
 
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* Second-quarter EPS C$0.07 vs C$0.38 year ago

* Results include pre-tax charge of C$25.0 mln for debt refinancing

* Consolidated revenue declines 11 pct

* Revenue at its television business falls 12 pct

April 11 (Reuters) - Canadian media company Corus Entertainment Inc reported an 81 percent fall in second-quarter profit due mainly to lower television revenue.

Net income attributable to shareholders fell to C$5.9 million ($5.8 million), or 7 Canadian cents per share, from C$31.6 million, or 38 Canadian cents per share, a year earlier.

The company said net income included a pre-tax charge of C$25.0 million related to debt refinancing.

Adjusted net income attributable to shareholders was C$24.4 million, down 23 percent from a year earlier.

Consolidated revenue for the specialty television producer, which focuses on content for children and women, fell 11 percent to C$183.7 million.   Continued...