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DHX Media Q2 profits up 118% at $1.8M; revenue rises 27% to $24.7M

By The Canadian Press  | February 14, 2012

HALIFAX - DHX Media Ltd. (TSX:DHX) reports a more than doubling of its second-quarter profit as revenue at the producer and distributor of mainly children's television programs rose some 27 per cent.

Halifax-based DHX said it earned $1.8 million or three cents per share in the three months ended Dec. 31.

That was up 115 per cent from $854,000 or a penny per share in the same year-earlier period.

Revenues were $24.7 million, up from $19.4 million.

"We are pleased to report 115 per cent growth in net income for which all business lines contributed positively," chairman and CEO Michael Donovan said in a release.

"We added 32 half-hours of proprietary content to our library of 2,500 half-hours of mostly children's content over the quarter and reduced our operating expenses 11 per cent as compared to Q2 2011."

DHX Media, with offices in Toronto, Vancouver, Los Angles and London as well as Halifax, has produced over 40 original television series and maintains a library of animation and live-action programming.

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