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Astral enjoys solid Q3

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Astral Media Inc.
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MONTREAL - Astral Media this week reported continued growth in earnings, revenues, EBITDA and cash flow from continuing operations in the third quarter of fiscal 2004, ended May 31, 2004.

Net earnings from continuing operations increased by 25% to $25.5 million, compared to last year's third quarter. Net earnings from continuing operations for the first nine months of Fiscal 2004 increased 24% over last year, rising to $63.8 million. Consolidated revenues totaled $139.9 million for the third quarter, up 11% from the same quarter last year, and were $386.4 million for the first nine months of the 2004 fiscal year, an increase of 10%.

EBITDA was up 21% to $44.1 million in the third quarter and increased 19% for the first nine months of Fiscal 2004 to $111.7 million. Cash flow was also up.

"Excellent advertising revenue growth in our specialty television, radio and outdoor divisions combined with the sustained strength of our pay television subscriber revenues have made this a robust quarter for Astral Media," said Ian Greenberg, president and CEO. Astral owns a number of Quebec and eastern radio stations as well as specialty and pay services like The Movie Network, Super �cran, Family Channel, and vrak.tv.

"In our Television group, growth for the quarter was driven by both subscriber revenue growth of 10% and advertising-related growth of 19%. For our radio group, advertising revenue increased by 10% for the quarter. Our outdoor division also posted strong results with an 18% increase in advertising revenues for the quarter," added Greenberg.

For more, go to www.astralmedia.com.
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