Revenue jump puts DHX back in black
EmptyTORONTO -- Canadian kids producer DHX Media said Friday that it returned to a full-year profit on sharply higher revenue.
Halifax-based DHX, formerly the Halifax Film Co., posted earnings of CAN$1.2 million ($1.19 million) for the year ending June 30, compared with a loss of CAN$914,000 in 2006.
Full-year revenue came to CAN$26 million ($25.8 million), compared with a year-earlier CAN$15.8 million, a hike that includes a first-time contribution of six weeks' revenue from TV producer Decode Entertainment, which DHX acquired for CAN$17.8 million in May 2006.
The producer said it delivered 126 half-hours of kids programming during the latest year, up 77% from 71 half-hours delivered in 2006.
DHX is best known for kids series like "Bo on the Go," "Lunar Jim," "Franny's Feet" and "The Save-Ums."
The producer also strengthened its balance sheet by securing a CAN$70 million ($69.6 million) revolving credit facility from the Royal Bank of Canada.
DHX also said its library of kids and youth-themed programming has grown to nearly 1,800 half-hours.