Corus Entertainment Announces Fiscal 2013 Third Quarter Results

CORUS ENTERTAINMENT INC.
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

			Three months ended		Nine months ended
			May 31,		May 31,
(unaudited - in thousands of Canadian dollars except per share amounts)			2013	2012	2013	2012
Revenues			200,060	204,078	609,907	646,652
Direct cost of sales, general and administrative expenses			131,834	128,422	394,340	417,535
Depreciation and amortization			6,926	6,339	20,872	19,231
Interest expense			10,456	13,190	35,859	40,027
Debt refinancing			—	—	25,033	—
Business acquisition, integration and restructuring costs			2,147	2,325	2,147	2,325
Gain on sale of associated company			(55,394)	—	(55,394)	—
Other (income) expense, net			82	(3,532)	162	(4,702)

Income before income taxes			104,009	57,334	186,888	172,236
Income tax expense			12,497	12,387	34,480	41,070

Net income for the period			91,512	44,947	152,408	131,166

Net income attributable to:
Shareholders			89,913	43,221	148,016	125,340
Non-controlling interest			1,599	1,726	4,392	5,826
			91,512	44,947	152,408	131,166

Earnings per share attributable to shareholders:
		Basic	$ 1.07	$ 0.52	$ 1.77	$ 1.51
		Diluted	$ 1.07	$ 0.51	$ 1.76	$ 1.50

Net income for the period			91,512	44,947	152,408	131,166
Other comprehensive income (loss), net of tax
	Items that may be reclassified subsequently to income:
		Unrealized foreign currency translation adjustment	204	1,434	1,685	1,971
		Unrealized change in fair value of available-for-sale investments	(368)	(163)	(42)	(254)
			(164)	1,271	1,643	1,717

Comprehensive income for the period			91,348	46,218	154,051	132,883

Comprehensive income attributable to:
		Shareholders	89,749	44,492	149,659	127,057
		Non-controlling interest	1,599	1,726	4,392	5,826
			91,348	46,218	154,051	132,883

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