Outdoor Channel Holdings Inc. (OUTD), the entertainment and media company to be acquired by Kroenke Sports & Entertainment, Monday reported a lower profit for the fourth quarter, hurt mainly by higher expenses. Revenues for the three-month period increased.
Fourth-quarter net income dropped to $1.3 million or $0.05 per share from $1.5 million or $0.06 per share last year.
Revenues for the quarter grew 8 percent to $25.4 million from $23.6 million last year, driven primarily by growth in revenues at Aerial Cameras unit and combined advertising and subscriber revenues.
Total other expenses increased to $12.5 million from $8.5 million.
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