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Corus Profits Rise in Latest Quarter

Corus Entertainment, parent of Nelvana Studios, YTV, and Teletoon, earned $34.1 million on sales of $178.7 million in its second quarter, ended February 29, the company said today. That represented a near doubling of net income from the same quarter last year, thanks to recoveries related to income tax changes. Consolidate segment profits were up 5% to $47.3 million.

For the six months ended February 29, Corus had net income of $96.9 million, up from $91.3 million. Six-month sales of $393.6 million were up from $383.9 million in the same period last year.

[Source: Corus Entertainment]

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