WIC REPORTS IMPROVED EARNINGS
By Adnews Staff
Vancouver-based WIC Western International Communications has reported a loss of $0.4 million during the second quarter that ended February 28. This compares to a $3.9 million loss during the same quarter last year. Net earnings for the first six months of fiscal 1998 grew to $17.1 million, compared to $4.3 million last year. Revenues jumped from $112.5 million to $138.4 million for the quarter this year, an increase of 23%. Revenues for the six-month period grew to $298.6 million, compared to $241.2 million last year. Revenues for WIC's broadcast division, which includes radio, TV and pay-TV stations, rose from $196 million last year to $236 million during the six-month period. The delivery division, which operates Cancom, saw revenues increase from $45 million to $63 million.