* WIC Western International Communications has announced an impressive 66% improvement in net earnings for the first nine months of fiscal 1995. Earnings were $18.5 million compared to $11.1 million for the same period last year, the highest nine-month levels ever achieved by wic.
The strong growth is attributed to the fact that the company increased its revenues by 9% to $329 million while maintaining its operating expenses at a 5% growth over the last year. Earnings per share were up to $0.76 compared to $0.46 in ’94.
During the period, revenues from wic’s television segment reached a record high of $200 million, up 8% over last year. Pay-tv revenues were $23 million, up $2 million over ’94. Radio continued to recover with revenues for the nine months at $47 million, up 9% over last year.
Canadian Satellite Communications, of which 53.7% is owned by wic, saw revenues up 12% over the same period last year. Cancom’s revenue was $58.5 million.
Also at wic, the board of directors has appointed John A. Quigley as vp of CellularVision Technology, a distribution technology capable of delivering hundreds of interactive video, voice and data signals. wic holds the Canadian rights to the system.
* For the nine-month period ending April 30, Montreal-based Coscient Group reports sales quadrupled to $55.8 million, up from $12.7 million last year.
The hike reflects combined revenues from the company’s new subsidiaries, Productions sda and Allegro Films.
Gross profit for the period rose to almost $8.5 million from $2.3 million in 1994. Total net earnings were up 20% to $531,119. Coscient’s year end is July 31.
* CanWest Global Communications’ investment in Network Ten, Australia, continues adding to the Canadian broadcaster’s profit margin. As of the third quarter report for the nine months ending May 31, interest in earnings of Network Ten jumped 127% to $11 million. CanWest has a 57.5% economic interest in Network Ten.
CanWest reports third-quarter revenue at $93.1 million, up 29% over 1994 third-quarter results. Operating profit was up 8% at $23.3 million, consolidated net earnings were up 21% to $13.3 million, and earnings per share rose 18% at $0.33.
For the first nine months of ’95, CanWest reports revenue of $269,005,000, up 23% over the same period last year. Operating profit climbed 16.1% from $63,890,000 last year to $74,151,000.
* PMT Video is producing over 150 minutes of 3D animation on the Productions Desclez series Little Star. The $10 million children’s production wraps in the fall of 1996 and has been presold to Radio-Canada, The Learning Channel in the u.s. and Ravensburger of Germany. In terms of volume of computer animation, the series is second only to the Alliance Communications/BLT Productions’ series ReBoot, says Muriel Kearney, executive producer with pmt.