January 13, 2011 / 1:37 PM / 7 years ago

UPDATE 1-Astral Media Q1 profit slides on higher oper expenses

* Q1 EPS C$0.93 vs C$1.14 yr ago

* Revenue up 7 pct to C$267.1 mln

Jan 13 (Reuters) - Canadian broadcaster Astral Media’s ACMa.TO ACMb.TO quarterly profit slid 17 percent, hurt by an increase in operating expenses.

For the first quarter, consolidated net income was C$53.3 million ($54.04 million), or 93 Canadian cents per share, compared with C$64.6 million, or C$1.14 per share, a year ago.

Revenue rose nearly 7 percent to C$267.1 million.

Analysts on average were expecting the specialty-TV and radio company to earn 93 Canadian cents per share on revenue of C$269.7 million, according to Thomson Reuters I/B/E/S.

Operating expenses for the quarter rose 15 percent to C$177.7 million.

Shares of Montreal, Quebec-based Astral closed at C$41.39 on Wednesday on the Toronto Stock Exchange. ($1=.9863 CANADIAN DOLLAR) (Reporting by Abhiram Nandakumar in Bangalore) ((abhiram.nandakumar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: abhiram.nandakumar.thomsonreuters.com@reuters.net))

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