WIC BOOSTS REVENUE OVER 1997
By Adnews Staff
Vancouver-based WIC Western International Communications has reported that total revenues for the year increased 6% to $485 million in the year ending August 1997. Total revenues for the last quarter were $106.9 million, compared to $103.8 million in 1996. Net earnings jumped 22% to $10 million, compared to $8.3 million last year. Net earnings for the fourth quarter rose 38%. WIC showed a loss of $3.3 million this quarter, compared to a $5.3 million loss a year earlier. Television revenues were up 7.2% to $281.5 million. Operating income increased from $46.9 million last year to $55.6 million this year. Pay television revenue declined this year to $32.9 million, compared to $34.5 million in 1996. Radio revenue jumped from $71.6 million last year to $72.2 million this year. Operating income was $0.3 million, down from $2.7 million in 1996.