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Children's media firm DHX Media reports $18.4M Q3 loss, hit by writedown

HALIFAX — DHX Media Ltd. says its loss in its latest quarter more than doubled compared with a year ago as it took a one-time charge. The children's media company says it lost $18.
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HALIFAX — DHX Media Ltd. says its loss in its latest quarter more than doubled compared with a year ago as it took a one-time charge.

The children's media company says it lost $18.4 million or 14 cents per share for the quarter ended March 31, compared with a loss of $8 million or six cents per share a year earlier.

DHX says the most recent quarter included a $34.2-million writedown related to its investments in film, licensed television programs, acquired content and intangible assets.

Revenue in what was the company's third quarter totalled $110 million, down from $116.5 million a year ago.

Last month, the company announced a deal to sell a building it owns in Toronto for $12 million. Proceeds from the deal will be used to pay down debt.

DHX is the company behind such properties as Peanuts, Teletubbies, Strawberry Shortcake, Caillou, Inspector Gadget, and the Degrassi franchise.

 

 

Companies in this story: (TSX:DHX)

 

The Canadian Press




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