Blue And Media Q3 Loss Widens on Non-Cash Impairment Charge
Blue Ant Media (BAMI.TO) reported a fiscal third-quarter net loss of C$0.64 per share, compared with a net loss of C$0.73 per share a year earlier. The company's net loss widened to C$17.5 million from C$11.2 million in the prior-year period, primarily reflecting a non-cash impairment charge of C$33.1 million in its Canadian Media segment. Revenue jumped 124% to C$125.6 million for the quarter ended May 31, and beat the consensus analyst forecast of C$122.8 million, as compiled by FactSet. The sharp increase was due to recent production acquisitions, notably the Thunderbird acquisition, the company said. "We're pleased to see the direct impact of our recent acquisitions on our top and bottom line performance this quarter, particularly in Production and Distribution," said chief executive Michael MacMillan. "Our results provide a clear picture of our expanded scale, output, and earnings power."
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(Corrects company name in headline) Blue Ant Media (BAMI.TO) reported a fiscal third-quarter net loss of C$0.64 per share, compared with a net loss of C$0.73 per share a year earlier.
The company's net loss widened to C$17.5 million from C$11.2 million in the prior-year period, primarily reflecting a non-cash impairment charge of C$33.1 million in its Canadian Media segment.
Revenue jumped 124% to C$125.6 million for the quarter ended May 31, and beat the consensus analyst forecast of C$122.8 million, as compiled by FactSet.
The sharp increase was due to recent production acquisitions, notably the Thunderbird acquisition, the company said. "We're pleased to see the direct impact of our recent acquisitions on our top and bottom line performance this quarter, particularly in Production and Distribution," said chief executive Michael MacMillan. "Our results provide a clear picture of our expanded scale, output, and earnings power."