Glacier Media Inc. (GVC.TO) Monday reported a increase in profit for the first quarter, helped mainly by higher revenues.
Net income attributable to common shareholders for the period increased to $2.9 million from $2.7 million in the year-earlier period. On a per share basis, earnings were $0.03, flat with last year.
Net income attributable to common shareholders before non-recurring items for the period was $3.5 million or $0.04 per share, compared to $3.8 million or $0.04 per share last year.
On average, four analysts polled by Thomson Reuters expected the company to earn C$0.06 per share for the first quarter. Analysts' estimates typically exclude special items.
First-quarter revenues increased 25.2 percent to $76.4 million from $61.0 million last year.
Gross margin for the period was 32.4 percent, compared to 36.3 percent last year.
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