×

UPDATE 1-Canada's TVA Group posts Q1 earnings below estimates

* Q1 EPS C$0.06 vs est C$0.23 * Q1 rev C$109.6 vs est C$106.3 May 10 (Reuters) - Integrated communications company TVA Group Inc posted first-quarter earnings that missed market estimates, hurt by a fall in advertising revenues and increase in programming costs. "The Vancouver Olympic Games in February definitely cost us advertising revenues and audience ratings," Chief Executive Pierre Dion said in a statement. For the quarter ended March 31, the company posted net income of C$1.5 million, or 6 Canadian cents a share, compared with, C$6.5 million, or 27 Canadian cents a share, a year ago. Operating revenue fell marginally to C$109.6 million. Analysts on average were expecting earnings of 23 Canadian cents a share, on revenue of C$106.3 million, according to Thomson Reuters I/B/E/S. Shares of the company closed at C$14.35 Friday on the Toronto Stock Exchange. (Reporting by Arnika Thakur in Bangalore; Editing by Maju Samuel) Keywords: TVAGROUP/ (arnika.thakur@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: arnika.thakur.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.

The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.