Despite higher revenue from an improved ad climate, Corus Entertainment on Wednesday posted lower fourth quarter earnings on restructuring charges.

Toronto-based Corus saw earnings to August 31 fall to $6.8 million, against a profit of 18.7 million in 2009, on overall revenue rising 4% to $202.8 million.

“The advertising recovery continued in the fourth quarter, particularly for our specialty assets,” Corus president and CEO John Cassaday said in a statement.

Specialty ad revenue rose 22% during the latest quarter, and 9% for full-year 2010, Corus reported.

The bottom line was dented by a higher interest expense, a $12.92 million one-time charge for a corporate restructuring, and a $7.62 million expense for radio tariffs.

Cassaday added Corus was well positioned to meet its full-year guidance for fiscal 2011.

Pictured: Jason Priestley as Richard “Fitz” Fitzpatrick on Call me Fitz, from Corus’ HBO Canada.