DHX Media Q2 earnings dip on costs associated with Cookie Jar acquisition

HALIFAX – DHX Media Ltd. (TSX: DHX) has cited higher selling, general and administrative expenses and one-time costs related to the acquisition of Cookie Jar Entertainment for a decrease in second-quarter profit.

The Halifax based producer, distributor and licensor of mainly children’s entertainment content for television and film says comprehensive income fell to $218,000 in its most recent period.

That was down from earnings of $1.5 million in the 2011 quarter despite a seven per cent increase in revenue to $26.4 million, due to the contribution from Cookie Jar, a Canadian cartoon powerhouse acquired in a $111-million deal that closed in October.

The net income translated to less than a penny per share in the most recent period, down from three cents per share the previous year.

The company also announced a quarterly dividend of three-quarters of a cent per share, payable March 15 to shareholders of record on Feb. 25.

On the Toronto Stock Exchange, DHX shares closed down seven cents, or 3.06 per cent, at $2.22.