TVA publishing sector shows 6.7% growth in first quarter

In results which showed a substantial drop in operating income in its television, properties, including SUN TV, the TVA Group reported a 6.7% growth in its publishing sector's operating income in the first quarter of 2010. TVA is a subsidiary of Quebecor Media Inc. and is the largest private sector broadcaster of French language programming and magazine publishing in North America.

"The publishing sector's advertising revenues decreased slightly by 2.3%, whereas subscription revenues increased by 7.7% over the same quarter of 2009, which resulted in an increase in operating income of 6.7% and a profit margin of 14.0%, compared with 12.9% in the same quarter of 2009, while we also continued to protect our market shares," said Pierre Dion, president and chief executive officer.

The publishing sector's operating income was $2.5 million, compared with $2.3 million in the same quarter a year ago. Overall, the television sector dropped 56.9% in the first quarter, compared with the same period last year. The company's consolidated operating income dropped 44.9% to $6.8 million, compared with $12.3 million in the same quarter of 2009.