HALIFAX — DHX Media Ltd. reported a loss in its latest quarter compared with a profit a year ago as its revenue rose 5.5 per cent.
The children’s entertainment company says it lost $2.4 million compared with a profit of $8.1 million a year ago, due to a larger non-controlling interest in Peanuts and a non-cash write-down in deferred financing charges.
The loss amounted to two cents per share for the quarter ended Sept. 30 compared with a profit of six cents per share a year ago.
Revenue in what was the first quarter of DHX’s financial year totalled $104 million, up from $98.6 million.
Last week, DHX announced a deal to sell its Halifax animation studio to IoM Media Ventures as part of what it said was a strategic shift to focus and streamline its production operations.
DHX completed a strategic review earlier this year that ended with a deal to boost distribution and sales of its Peanuts brand in China and elsewhere in Asia. The company also suspended its dividend, cut staff and streamlined operations.
Companies in this story: (TSX:DHX)
The Canadian Press