Revenue in the first quarter at Crown Media, parent of the
Hallmark Channel, was up 2% to $85.6 million, as strong broadcast ad sales
drove results.
Broadcast advertising revenue was up 7% due to a 22%
increase on the Hallmark Movie Channel and a 5% increase in our key demographic
of women 25-54 on the Hallmark Channel. Overall advertising revenue increased
2% to $65.2 million from $63.9 million in the 2012. Subscriber fee revenue
increased 2% to $20.1 million from $19.8 million last year due to contractual
rate increases.
Adjusted EBITDA was $36.2 million for the first quarter of
2013 compared to $33.0 million for the same period last year. Cash used in
operating activities totaled $6 million for the first quarter of 2013 compared
to $4.8 million for the same period last year. The net income to common shareholders
for the quarter ended March 31, 2013, totaled $14.5 million, or $0.04 per
share, compared to $12.3 million, or $0.03 per share, in the first quarter of
2012.
Click
here to read the full story at Multichannel News.
