ALLIANCE FIRST QUARTER PROFITS DOWN
By Adnews Staff
Toronto-based Alliance Communications Corp. last week announced first quarter profit and revenue are down from the same quarter a year ago. Profit is at $955,000 for the three months ending June 30, down from $3.3 million last year. Share profit is down from 34 cents to 10 cents. Revenue fell from $64.2 million to $63.5 million over the same period. Alliance blamed this decline on the fact that the television division came across with only eight hours of programming in the quarter, as opposed to 14 hours in last year's first quarter. Alliance was quick to point out that it expects to deliver more than 80 hours of programming overall this year, up from 57 last year, which should result in a stronger financial performance when the dust of the complete fiscal year finally settles.