Friday , February 26 2021

DHX Media Ltd reports quarter-on-quarter loss, revenue rising a year ago Regional | news

HALIFAX – DHX Media Ltd. reported losses in the last quarter, compared to a year ago, as revenue rose 5.5 percent.

The children's entertainment company claims to have lost $ 2.4 million compared to a profit of $ 8.1 million a year ago due to increased non-controlling holdings for Peanuts and non-cash write-downs on deferred funding costs.

The loss was two cents per share in the quarter, ending September 30, compared to six cents per share a year ago.

The revenue in the first quarter of the DHX financial year was $ 104 million, which is $ 98.6 million.

Last week, DHX announced an agreement to sell its Halifax animation studio IoM Media Ventures, part of its strategic shift to focus and streamline its manufacturing operations.

This year, DHX completed a strategic review that ended with a deal to promote Peanut brand distribution and sales in China and elsewhere in Asia. The company also suspended dividends, reduced staff and rationalized operations.

Companies in this story: (TSX: DHX)

Canadian press

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