ASTRAL SHOW INCREASED REVENUES
By Adnews Staff
Montreal-based Astral Communications has reported a 27% increase in revenues for the third quarter ending May 31. Revenues jumped to $87.7 million, compared to $69 million during the same period last year. Net earnings for the quarter rose 31% to $3.4 million, compared to $2.6 million last year. For the nine month period ending May 31, net earnings grew by 28%, rising from $6.8 million to $8.7 million. Revenues increased from $225 million to $231.4 million.
Separately, Astral has announced it plans to increase in stake in its entertainment software development subsidiary, Artech Digital Entertainments of Ottawa, from 16% to 51%. Astral Communications is a communications company involved in broadcasting and video marketing, as well as manufacturing and technical services. Its broadcasting group operates English and French pay-per-view, pay and specialty channels. Its video division distributes videos, music and related products. In addition, it manufactures pre-recorded videocassettes. Astral's technical unit provides services for producers of animation programming. The company also owns 25% of Radiomutuel Inc. of Montreal, a communications company that operates specialty TV channels, radio stations and an outdoor advertising company.