May 29, 2012 / 8:34 PM / 6 years ago

Indigo earnings boosted by Kobo sale, revenue down

May 29 (Reuters) - Canada’s Indigo Books & Music Inc reported higher quarterly earnings on Tuesday, helped by the sale of its e-reader business, but continuing operations reported a loss.

The company said revenue fell C$4 million to C$196 million, hurt by lower physical book sales, but sales were helped somewhat by growth in other segments, including gifts and toys.

For the quarter ended March 31, loss from continuing operations was C$10.7 million, or 43 Canadian cents a share, compared with C$11.7 million, or 31 Canadian cents a year earlier.

The company said a C$165 million gain on the sale of Kobo Inc boosted net earnings attributable to shareholders to C$131.5 million, compared with a loss of C$19.4 million last year.

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